As of Monday, Pulmonx Corporation’s (NASDAQ:LUNG) stock closed at $8.78, up from $8.66 the previous day. While Pulmonx Corporation has overperformed by 1.39%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, LUNG fell by -64.35%, with highs and lows ranging from $29.25 to $4.07, whereas the simple moving average fell by -43.58% in the last 200 days.
On January 03, 2023, BofA Securities Downgraded Pulmonx Corporation (NASDAQ: LUNG) to Underperform. A report published by Citigroup on December 12, 2022, Upgraded its rating to ‘Buy’ for LUNG. Citigroup also Downgraded LUNG shares as ‘Neutral’, setting a target price of $19 on the company’s shares in a report dated July 11, 2022. BofA Securities Initiated an Neutral rating on March 02, 2022, and assigned a price target of $28. Piper Sandler December 08, 2021d its ‘Neutral’ rating to ‘Overweight’ for LUNG, as published in its report on December 08, 2021. Citigroup’s report from April 01, 2021 suggests a price prediction of $60 for LUNG shares, giving the stock a ‘Buy’ rating. Piper Sandler also rated the stock as ‘Neutral’.
Analysis of Pulmonx Corporation (LUNG)
Further, the quarter-over-quarter increase in sales is 1.50%, showing a positive trend in the upcoming months.
One of the most important indicators of Pulmonx Corporation’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -32.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 7.70, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and LUNG is recording 695.32K average volume. On a monthly basis, the volatility of the stock is set at 7.58%, whereas on a weekly basis, it is put at 5.59%, with a loss of -1.57% over the past seven days. Furthermore, long-term investors anticipate a median target price of $11.07, showing growth from the present price of $8.78, which can serve as yet another indication of whether LUNG is worth investing in or should be passed over.
How Do You Analyze Pulmonx Corporation Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 4.20%. This can enable you to see the extent to which executives own the company’s stock.
Are institutional investors increasing their holdings in LUNG shares?
The recent increase in stakes in LUNG appears to be a result of several institutional investors and hedge funds increasing their positions. PRIMECAP Management Co.’s position in LUNG has increased by 0.65% in the first quarter. The company now owns 5,432,751 shares of the stock, with a value of $45.8 million, following the purchase of 35,130 additional shares during the last quarter. Deerfield Management Co. LP made another increased to its shares in LUNG during the first quarter, upping its stake by 7.36%. During the last quarter, the company picked up 255,000 additional shares for a total stake of worth $31.37 million, bringing number of shares owned by the company to 3,720,901.
During the first quarter, The Vanguard Group, Inc. added a 16,452 position in LUNG. Champlain Investment Partners LLC purchased an additional 0.67 million shares in the last quarter, increasing its holdings by 31.59%, now holding 2.8 million shares worth $23.62 million. At the end of the first quarter, BlackRock Fund Advisors decreased its LUNG holdings by -0.22% and now holds 2.03 million LUNG shares valued at $17.12 million with the lessened 4412.0 shares during the period.