Pulmonx Co. (NASDAQ:LUNG) Short Interest Down 14.3% in June

Pulmonx Co. (NASDAQ:LUNG) was the target of a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 1,200,000 shares, a drop of 14.3% from the June 15th total of 1,400,000 shares. Based on an average daily trading volume, of 436,600 shares, the short-interest ratio is presently 2.7 days. Currently, 3.4% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LUNG. Canaccord Genuity Group reduced their target price on shares of Pulmonx from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Lake Street Capital started coverage on shares of Pulmonx in a research note on Tuesday, June 4th. They set a “buy” rating and a $12.00 price target on the stock. Finally, Piper Sandler reissued an “overweight” rating and issued a $17.00 target price on shares of Pulmonx in a report on Wednesday, April 3rd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Pulmonx has a consensus rating of “Moderate Buy” and a consensus price target of $15.71.

Pulmonx Trading Up 4.6 %

Shares of Pulmonx stock traded up $0.34 on Monday, reaching $7.76. 388,952 shares of the stock were exchanged, compared to its average volume of 466,155. Pulmonx has a twelve month low of $5.67 and a twelve month high of $14.84. The business has a 50 day moving average price of $7.28 and a two-hundred day moving average price of $9.53. The company has a current ratio of 6.95, a quick ratio of 6.14 and a debt-to-equity ratio of 0.29.

Pulmonx (NASDAQ:LUNG) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.07. The business had revenue of $18.85 million during the quarter, compared to analyst estimates of $17.54 million. Pulmonx had a negative return on equity of 48.09% and a negative net margin of 80.46%. During the same quarter last year, the business posted ($0.42) EPS. As a group, analysts predict that Pulmonx will post -1.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pulmonx news, insider Geoffrey Beran Rose sold 4,297 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $6.97, for a total value of $29,950.09. Following the completion of the sale, the insider now owns 301,203 shares of the company’s stock, valued at $2,099,384.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, General Counsel David Aaron Lehman sold 5,475 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $6.97, for a total transaction of $38,160.75. Following the sale, the general counsel now owns 209,113 shares in the company, valued at approximately $1,457,517.61. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Geoffrey Beran Rose sold 4,297 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $6.97, for a total value of $29,950.09. Following the transaction, the insider now directly owns 301,203 shares in the company, valued at $2,099,384.91. The disclosure for this sale can be found here. Insiders have sold a total of 13,324 shares of company stock worth $94,585 in the last ninety days. Company insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Pulmonx

Institutional investors have recently bought and sold shares of the company. Walleye Capital LLC acquired a new position in Pulmonx in the third quarter valued at approximately $3,846,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Pulmonx in the 4th quarter valued at $156,000. Vanguard Group Inc. grew its holdings in shares of Pulmonx by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,023,836 shares of the company’s stock worth $20,906,000 after purchasing an additional 19,364 shares during the period. Primecap Management Co. CA increased its position in shares of Pulmonx by 2.2% during the 4th quarter. Primecap Management Co. CA now owns 5,646,451 shares of the company’s stock worth $71,992,000 after purchasing an additional 124,050 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Pulmonx in the 4th quarter valued at about $117,000. 91.04% of the stock is currently owned by institutional investors and hedge funds.

Pulmonx Company Profile

Pulmonx Corporation, a commercial-stage medical technology company, provides minimally invasive devices for the treatment of chronic obstructive pulmonary diseases. The company offers Zephyr Endobronchial Valve, a solution for the treatment of 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.