Short Interest in Pulmonx Corporation (NASDAQ:LUNG) Drops By 49.2%

Pulmonx Corporation (NASDAQ:LUNG) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 1,148,892 shares, a decline of 49.2% from the June 15th total of 2,263,505 shares. Based on an average daily volume of 862,593 shares, the short-interest ratio is presently 1.3 days. Currently, 2.9% of the company’s shares are sold short.

Pulmonx Stock Up 0.7%

Shares of NASDAQ LUNG traded up $0.01 during mid-day trading on Thursday, reaching $1.45. The company had a trading volume of 181,150 shares, compared to its average volume of 473,624. The firm has a 50 day simple moving average of $1.42 and a two-hundred day simple moving average of $1.54. Pulmonx has a 52-week low of $1.13 and a 52-week high of $3.88. The company has a current ratio of 4.91, a quick ratio of 4.04 and a debt-to-equity ratio of 0.81. The stock has a market cap of $61.24 million, a P/E ratio of -1.12 and a beta of 0.30.

Pulmonx (NASDAQ:LUNG) last issued its quarterly earnings data on Wednesday, April 29th. The company reported ($0.33) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.33). The company had revenue of $20.59 million during the quarter, compared to analysts’ expectations of $20.43 million. Pulmonx had a negative return on equity of 92.94% and a negative net margin of 60.09%. Sell-side analysts predict that Pulmonx will post -1.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LUNG. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pulmonx in a research note on Monday. Wall Street Zen upgraded Pulmonx from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $14.00 target price on shares of Pulmonx in a research report on Thursday, April 30th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $5.58.

Hedge Funds Weigh In On Pulmonx

A number of large investors have recently modified their holdings of the business. Cerity Partners LLC acquired a new position in Pulmonx during the fourth quarter worth about $27,000. Opal Capital LLC acquired a new stake in shares of Pulmonx in the fourth quarter valued at approximately $29,000. Regatta Capital Group LLC acquired a new stake in shares of Pulmonx in the fourth quarter valued at approximately $30,000. Lazard Asset Management LLC purchased a new position in shares of Pulmonx during the 4th quarter worth approximately $31,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of Pulmonx during the 3rd quarter worth approximately $29,000. 91.04% of the stock is owned by hedge funds and other institutional investors.

About Pulmonx

Pulmonx Corporation is a commercial-stage medical device company focused on bronchoscopic lung volume reduction for patients suffering from severe emphysema. The company’s flagship therapy, the Zephyr® Endobronchial Valve System, employs one-way valves delivered via a minimally invasive bronchoscopic procedure to collapse diseased portions of the lung, reducing hyperinflation and improving respiratory function. Complementing this treatment, Pulmonx offers the Chartis® Pulmonary Assessment System, which provides clinicians with quantitative measurements of collateral ventilation to aid in patient selection and optimize clinical outcomes.

The Zephyr Valve received the CE mark in Europe in 2008 and FDA approval in the United States in 2018, and it has since been adopted by leading respiratory and thoracic centers across North America and Europe.