Short Interest in Lucira Health, Inc. (NASDAQ:LHDX) Decreases By 15.9%

Posted by on Jun 1st, 2022

Lucira Health, Inc. (NASDAQ:LHDX – Get Rating) was the target of a significant drop in short interest in May. As of May 15th, there was short interest totalling 261,000 shares, a drop of 15.9% from the April 30th total of 310,300 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average trading volume of 105,500 shares, the days-to-cover ratio is currently 2.5 days.

Several equities research analysts have weighed in on LHDX shares. Zacks Investment Research downgraded Lucira Health from a “buy” rating to a “hold” rating in a report on Thursday, May 12th. Lifesci Capital raised Lucira Health from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 22nd.

In other Lucira Health news, insider Erik T. Engelson purchased 30,000 shares of the stock in a transaction on Tuesday, March 15th. The stock was acquired at an average price of $3.00 per share, with a total value of $90,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC acquired a new stake in shares of Lucira Health during the first quarter worth about $39,000. GSA Capital Partners LLP acquired a new position in Lucira Health in the first quarter valued at approximately $49,000. Morgan Stanley acquired a new position in Lucira Health in the first quarter valued at approximately $62,000. Bank of America Corp DE acquired a new position in Lucira Health in the fourth quarter valued at approximately $83,000. Finally, Royal Bank of Canada lifted its holdings in Lucira Health by 1,664.0% in the third quarter. Royal Bank of Canada now owns 11,660 shares of the company’s stock valued at $89,000 after acquiring an additional 10,999 shares during the period. 62.61% of the stock is owned by hedge funds and other institutional investors.

Shares of Lucira Health stock traded down $0.13 on Wednesday, reaching $1.84. 684 shares of the stock were exchanged, compared to its average volume of 113,367. The company has a current ratio of 3.72, a quick ratio of 2.67 and a debt-to-equity ratio of 0.14. Lucira Health has a twelve month low of $1.90 and a twelve month high of $11.10. The business has a 50 day moving average price of $2.94 and a two-hundred day moving average price of $4.72.

Lucira Health (NASDAQ:LHDX – Get Rating) last released its earnings results on Thursday, May 12th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.48. Lucira Health had a negative return on equity of 10.14% and a negative net margin of 21.47%. During the same quarter in the prior year, the business earned ($0.54) earnings per share. Sell-side analysts anticipate that Lucira Health will post 0.29 EPS for the current year.

Lucira Health Company Profile (Get Rating)

Lucira Health, Inc, a medical technology company, focuses on the development and commercialization of infectious disease test kits. It develops a testing platform that produces molecular testing services. The company offers LUCIRA COVID-19 All-In-One Test Kit, a COVID-19 test kit; and develops influenza A and B viruses test kits.

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