Short Interest in Pulmonx Corporation (NASDAQ:LUNG) Expands By 22.2%

Pulmonx Corporation (NASDAQ:LUNG) was the recipient of a large growth in short interest in December. As of December 15th, there was short interest totaling 3,086,595 shares, a growth of 22.2% from the November 30th total of 2,526,582 shares. Currently, 8.0% of the company’s shares are sold short. Based on an average daily trading volume, of 1,189,881 shares, the short-interest ratio is presently 2.6 days. Based on an average daily trading volume, of 1,189,881 shares, the short-interest ratio is presently 2.6 days. Currently, 8.0% of the company’s shares are sold short.

Pulmonx Stock Down 3.1%

LUNG stock opened at $2.21 on Friday. The stock’s 50 day moving average is $1.97 and its 200-day moving average is $2.04. Pulmonx has a twelve month low of $1.31 and a twelve month high of $9.37. The firm has a market capitalization of $91.16 million, a PE ratio of -1.57 and a beta of 0.10. The company has a quick ratio of 4.15, a current ratio of 4.86 and a debt-to-equity ratio of 0.62.

Pulmonx (NASDAQ:LUNG) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.06. The business had revenue of $21.50 million for the quarter, compared to analysts’ expectations of $20.78 million. Pulmonx had a negative return on equity of 77.58% and a negative net margin of 61.91%. Sell-side analysts expect that Pulmonx will post -1.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Pulmonx

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FNY Investment Advisers LLC bought a new position in shares of Pulmonx in the third quarter valued at approximately $29,000. Jain Global LLC bought a new position in Pulmonx in the 3rd quarter valued at $30,000. Corton Capital Inc. purchased a new stake in shares of Pulmonx during the 2nd quarter valued at $32,000. Perkins Capital Management Inc. increased its position in shares of Pulmonx by 110.0% during the 3rd quarter. Perkins Capital Management Inc. now owns 21,000 shares of the company’s stock valued at $34,000 after purchasing an additional 11,000 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Pulmonx by 95.8% during the 3rd quarter. SG Americas Securities LLC now owns 24,863 shares of the company’s stock worth $40,000 after purchasing an additional 12,166 shares during the period. Hedge funds and other institutional investors own 91.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Pulmonx from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. D. Boral Capital reiterated a “buy” rating and set a $14.00 price objective on shares of Pulmonx in a report on Thursday, November 13th. Lake Street Capital cut their price objective on shares of Pulmonx from $8.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Pulmonx in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.81.

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.