share_log

LumiraDx Limited (NASDAQ:LMDX) Sees Large Increase in Short Interest

Defense World ·  Dec 4, 2022 01:31

LumiraDx Limited (NASDAQ:LMDX – Get Rating) was the recipient of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 309,800 shares, a growth of 14.7% from the October 31st total of 270,100 shares. Approximately 2.1% of the company's stock are short sold. Based on an average daily volume of 337,500 shares, the days-to-cover ratio is currently 0.9 days.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LMDX shares. Raymond James decreased their price objective on LumiraDx from $4.00 to $3.50 and set an "outperform" rating for the company in a report on Friday, November 11th. BTIG Research decreased their price objective on LumiraDx from $7.00 to $4.00 and set a "buy" rating for the company in a report on Friday, August 19th.

Get LumiraDx alerts:

LumiraDx Price Performance

Shares of NASDAQ LMDX opened at $1.29 on Friday. The stock has a market capitalization of $58.36 million, a price-to-earnings ratio of -0.91 and a beta of 1.05. The business has a 50-day moving average of $1.09 and a 200-day moving average of $1.88. The company has a debt-to-equity ratio of 20.12, a current ratio of 2.91 and a quick ratio of 1.63. LumiraDx has a fifty-two week low of $0.77 and a fifty-two week high of $10.42.

Hedge Funds Weigh In On LumiraDx

Hedge funds have recently modified their holdings of the stock. Bill & Melinda Gates Foundation bought a new position in LumiraDx during the third quarter worth about $14,600,000. Senvest Management LLC grew its holdings in LumiraDx by 297.0% during the third quarter. Senvest Management LLC now owns 10,737,651 shares of the company's stock worth $10,952,000 after purchasing an additional 8,032,616 shares during the period. Balyasny Asset Management LLC grew its holdings in LumiraDx by 36,072.9% during the third quarter. Balyasny Asset Management LLC now owns 3,771,385 shares of the company's stock worth $3,847,000 after purchasing an additional 3,760,959 shares during the period. Pictet Asset Management SA bought a new position in LumiraDx during the third quarter worth about $1,659,000. Finally, Colony Group LLC bought a new position in LumiraDx during the second quarter worth about $787,000.

LumiraDx Company Profile

(Get Rating)

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.

Read More

  • Get a free copy of the StockNews.com research report on LumiraDx (LMDX)
  • Why CSL Ltd Stock Could Be Worth a Look
  • MarketBeat: Week in Review 11/28 – 12/02
  • Okta Inc Celebrates Earnings Beat But Can They Sustain the Boost?
  • Institutions Are Buying Ambarella, Should You?
  • Can ZIM Defy Broad Downturn In The Container Shipping Industry?

Receive News & Ratings for LumiraDx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LumiraDx and related companies with MarketBeat.com's FREE daily email newsletter.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment