LumiraDx Limited (NASDAQ:LMDX – Get Rating) saw a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 233,100 shares, a decline of 27.6% from the November 30th total of 322,000 shares. Based on an average daily volume of 299,200 shares, the days-to-cover ratio is presently 0.8 days. Currently, 1.6% of the company's shares are short sold.
Institutional Trading of LumiraDx
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. bought a new stake in LumiraDx in the 2nd quarter valued at about $40,000. Measured Wealth Private Client Group LLC bought a new position in shares of LumiraDx in the second quarter valued at approximately $80,000. Hyman Charles D bought a new position in shares of LumiraDx in the third quarter valued at approximately $31,000. Virtu Financial LLC grew its holdings in shares of LumiraDx by 186.0% in the third quarter. Virtu Financial LLC now owns 30,047 shares of the company's stock valued at $31,000 after acquiring an additional 19,541 shares in the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of LumiraDx in the third quarter valued at approximately $39,000.
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LumiraDx Trading Down 2.2 %
Shares of NASDAQ:LMDX traded down $0.02 during midday trading on Monday, reaching $0.90. The company's stock had a trading volume of 903 shares, compared to its average volume of 299,986. The firm has a market capitalization of $227.43 million, a price-to-earnings ratio of -0.63 and a beta of 1.24. The company has a debt-to-equity ratio of 20.12, a quick ratio of 1.63 and a current ratio of 2.91. The firm has a 50 day moving average price of $1.08 and a two-hundred day moving average price of $1.49. LumiraDx has a fifty-two week low of $0.77 and a fifty-two week high of $10.42.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on LMDX. Raymond James dropped their price objective on LumiraDx from $4.00 to $3.50 and set an "outperform" rating on the stock in a research note on Friday, November 11th. The Goldman Sachs Group began coverage on LumiraDx in a research note on Monday, December 19th. They issued a "neutral" rating on the stock.
About LumiraDx
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LumiraDx Limited operates as a point of care diagnostics company. The company focuses on transforming community-based healthcare by providing critical diagnostic information to healthcare providers. It manufactures and commercializes a diagnostic platform that supports various tests with lab comparable performance at the point of care.
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