Pulmonx Co. (NASDAQ:LUNG) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Pulmonx Co. (NASDAQ:LUNG – Get Rating) have been assigned an average rating of “Hold” from the seven research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $11.79.

A number of research analysts recently issued reports on the stock. Bank of America cut shares of Pulmonx from a “neutral” rating to an “underperform” rating and set a $8.00 price objective on the stock. in a research note on Tuesday, January 3rd. Wells Fargo & Company decreased their price objective on shares of Pulmonx from $13.50 to $6.00 and set an “equal weight” rating on the stock in a research note on Monday, December 12th. Morgan Stanley decreased their price objective on shares of Pulmonx from $14.00 to $9.50 and set an “equal weight” rating on the stock in a research note on Friday, January 6th. Canaccord Genuity Group decreased their price objective on shares of Pulmonx from $31.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, November 4th. Finally, Citigroup raised shares of Pulmonx from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $14.00 to $10.00 in a research note on Monday, December 12th.

Pulmonx Stock Up 0.6 %

Shares of LUNG opened at $8.83 on Wednesday. Pulmonx has a 12 month low of $4.07 and a 12 month high of $29.25. The firm’s 50 day moving average is $7.18 and its 200-day moving average is $13.22. The stock has a market capitalization of $330.32 million, a PE ratio of -5.66 and a beta of 0.39. The company has a current ratio of 8.44, a quick ratio of 7.73 and a debt-to-equity ratio of 0.08.

Pulmonx (NASDAQ:LUNG – Get Rating) last announced its earnings results on Thursday, November 3rd. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.02. Pulmonx had a negative net margin of 110.97% and a negative return on equity of 32.43%. The company had revenue of $13.50 million for the quarter, compared to analysts’ expectations of $14.91 million. Equities research analysts forecast that Pulmonx will post -1.61 EPS for the current year.

Insider Buying and Selling at Pulmonx

In related news, Director Richard Ferrari bought 5,438 shares of the business’s stock in a transaction on Tuesday, November 8th. The shares were purchased at an average price of $5.31 per share, for a total transaction of $28,875.78. Following the completion of the transaction, the director now directly owns 30,035 shares of the company’s stock, valued at approximately $159,485.85. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 5,755 shares of company stock worth $34,127 over the last quarter. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Pulmonx

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of Pulmonx during the second quarter worth $435,000. Walleye Capital LLC acquired a new position in shares of Pulmonx during the second quarter worth $501,000. Amalgamated Bank acquired a new position in shares of Pulmonx during the first quarter worth $105,000. Bridgewater Associates LP lifted its holdings in shares of Pulmonx by 27.1% during the second quarter. Bridgewater Associates LP now owns 51,855 shares of the company’s stock worth $763,000 after purchasing an additional 11,068 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Pulmonx by 375.1% during the first quarter. Goldman Sachs Group Inc. now owns 501,022 shares of the company’s stock worth $12,430,000 after purchasing an additional 395,566 shares during the period. Institutional investors and hedge funds own 92.68% of the company’s stock.

About Pulmonx

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Pulmonx Corporation, a medical technology company, provides minimally invasive devices for the treatment of chronic obstructive pulmonary diseases. It offers Zephyr Endobronchial Valve, a solution for the treatment of bronchoscopic in adult patients with hyperinflation associated with severe emphysema; and Chartis Pulmonary Assessment System, a balloon catheter and console system with flow and pressure sensors that are used to assess the presence of collateral ventilation.