Lucid Diagnostics (NASDAQ:LUCD) Posts Earnings Results

Lucid Diagnostics (NASDAQ:LUCD) released its earnings results on Tuesday. The company reported ($0.26) earnings per share for the quarter, Yahoo Finance reports. Lucid Diagnostics had a negative net margin of 2,169.07% and a negative return on equity of 8,334.14%. The firm had revenue of $1.04 million during the quarter. During the same period in the previous year, the company earned ($0.22) earnings per share.

Lucid Diagnostics Stock Performance

NASDAQ LUCD opened at $0.99 on Thursday. The firm has a 50-day moving average of $1.29 and a 200-day moving average of $1.34. Lucid Diagnostics has a 52-week low of $0.97 and a 52-week high of $1.85.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LUCD. BlackRock Inc. grew its holdings in Lucid Diagnostics by 18.7% in the 1st quarter. BlackRock Inc. now owns 67,565 shares of the company’s stock valued at $227,000 after buying an additional 10,636 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Lucid Diagnostics by 25.6% during the first quarter. Vanguard Group Inc. now owns 312,876 shares of the company’s stock worth $1,051,000 after purchasing an additional 63,687 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Lucid Diagnostics in the first quarter valued at approximately $122,000. State Street Corp boosted its stake in shares of Lucid Diagnostics by 24.4% in the first quarter. State Street Corp now owns 56,693 shares of the company’s stock valued at $190,000 after buying an additional 11,121 shares during the period. Finally, Geneos Wealth Management Inc. bought a new position in Lucid Diagnostics during the 1st quarter worth $209,000. Institutional investors and hedge funds own 74.01% of the company’s stock.

Wall Street Analysts Forecast Growth

LUCD has been the subject of a number of research analyst reports. Cantor Fitzgerald reduced their price target on Lucid Diagnostics from $3.80 to $3.00 and set an “overweight” rating for the company in a report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $2.50 price objective on shares of Lucid Diagnostics in a research report on Wednesday.

Lucid Diagnostics Company Profile

Lucid Diagnostics Inc operates as a commercial-stage medical diagnostics technology company. The company focuses on patients with gastroesophageal reflux disease who are at risk of developing esophageal precancer and cancer, primarily highly lethal esophageal adenocarcinoma (EAC). It offers EsoCheck, a cell collection device to prevent EAC deaths; and EsoGuard, an Esophageal DNA Test.