Cantor Fitzgerald Issues Pessimistic Forecast for Lucid Diagnostics (NASDAQ:LUCD) Stock Price

Lucid Diagnostics (NASDAQ:LUCD) had its price target decreased by analysts at Cantor Fitzgerald from $3.00 to $2.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 99.00% from the company’s previous close.

Several other analysts have also recently issued reports on LUCD. Needham & Company LLC reaffirmed a “buy” rating and set a $2.50 target price on shares of Lucid Diagnostics in a research report on Thursday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $3.00 price objective on shares of Lucid Diagnostics in a research report on Thursday. Ascendiant Capital Markets reduced their target price on shares of Lucid Diagnostics from $7.50 to $7.25 and set a “buy” rating for the company in a report on Tuesday, September 10th. Finally, Canaccord Genuity Group upgraded shares of Lucid Diagnostics to a “strong-buy” rating in a report on Tuesday, August 13th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $3.69.

Lucid Diagnostics Price Performance

Shares of LUCD stock traded down $0.01 during mid-day trading on Friday, hitting $1.01. The stock had a trading volume of 47,993 shares, compared to its average volume of 193,492. Lucid Diagnostics has a 12-month low of $0.63 and a 12-month high of $1.58. The firm’s 50-day moving average is $0.87 and its two-hundred day moving average is $0.85. The firm has a market capitalization of $54.26 million, a P/E ratio of -0.88 and a beta of 1.41.

Lucid Diagnostics (NASDAQ:LUCD) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.23) earnings per share for the quarter. The firm had revenue of $0.98 million for the quarter. Analysts expect that Lucid Diagnostics will post -0.82 EPS for the current year.

Hedge Funds Weigh In On Lucid Diagnostics

A hedge fund recently raised its stake in Lucid Diagnostics stock. Virtu Financial LLC boosted its stake in shares of Lucid Diagnostics Inc. (NASDAQ:LUCD) by 66.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,671 shares of the company’s stock after purchasing an additional 13,835 shares during the period. Virtu Financial LLC owned approximately 0.07% of Lucid Diagnostics worth $28,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 74.01% of the company’s stock.

About Lucid Diagnostics

Lucid Diagnostics Inc operates as a commercial-stage medical diagnostics technology company in the United States. The company focuses on patients with gastroesophageal reflux disease (GERD) who are at risk of developing esophageal precancer and cancer, primarily highly lethal esophageal adenocarcinoma.