Pulmonx (NASDAQ:LUNG) Share Price Breaks Above 50-Day Moving Average – Should You Sell?

Pulmonx Corporation (NASDAQ:LUNG) crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $2.02 and traded as high as $2.77. Pulmonx shares last traded at $2.52, with a volume of 7,248,277 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Canaccord Genuity Group set a $5.00 target price on Pulmonx in a research report on Wednesday. Weiss Ratings raised shares of Pulmonx from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 25th. Finally, Stifel Nicolaus lifted their price target on shares of Pulmonx from $2.50 to $4.00 and gave the stock a “buy” rating in a research note on Wednesday. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $7.67.

Pulmonx Stock Down 4.7%

The company has a debt-to-equity ratio of 0.95, a quick ratio of 3.52 and a current ratio of 4.32. The firm has a market capitalization of $129.27 million, a P/E ratio of -2.98 and a beta of 0.33. The stock has a fifty day moving average price of $2.05 and a two-hundred day moving average price of $1.66.

Pulmonx (NASDAQ:LUNG) last announced its quarterly earnings data on Tuesday, October 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.07. The firm had revenue of $22.84 million for the quarter, compared to analysts’ expectations of $21.93 million. Pulmonx had a negative return on equity of 91.79% and a negative net margin of 47.93%. Research analysts forecast that Pulmonx Corporation will post -0.98 EPS for the current year.

Insider Activity

In related news, CEO Glendon French, III sold 41,882 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $2.26, for a total transaction of $94,653.32. Following the completion of the sale, the chief executive officer owned 1,137,936 shares of the company’s stock, valued at $2,571,735.36. This represents a 3.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Srikanth Radhakrishnan sold 14,245 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $2.26, for a total transaction of $32,193.70. Following the sale, the insider owned 316,994 shares in the company, valued at approximately $716,406.44. This trade represents a 4.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 78,340 shares of company stock valued at $177,048. Company insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On Pulmonx

Several institutional investors have recently made changes to their positions in LUNG. Parkman Healthcare Partners LLC acquired a new stake in Pulmonx in the second quarter worth $841,000. Stonepine Capital Management LLC acquired a new position in shares of Pulmonx during the second quarter valued at $1,060,067. BlackRock Inc. acquired a new position in shares of Pulmonx during the second quarter valued at $1,147,000. Deutsche Bank AG bought a new position in shares of Pulmonx during the second quarter worth about $523,000. Finally, ADAR1 Capital Management LLC bought a new position in shares of Pulmonx during the second quarter worth about $526,000. 91.04% of the stock is owned by institutional investors.

Pulmonx Company Profile

Pulmonx Corporation is a medical device company focused on developing minimally invasive treatments for patients with severe emphysema, a form of chronic obstructive pulmonary disease (COPD). The company’s technologies are designed to reduce hyperinflation in damaged portions of the lung and help improve breathing, exercise capacity and quality of life.

Pulmonx’s primary product is the Zephyr Endobronchial Valve, a bronchoscopically implanted, one-way valve intended for certain patients with severe emphysema.