How does Lucira Health Inc. (LHDX) change from a tortoise to a hare?

Lucira Health Inc. (NASDAQ: LHDX) stock fell -6.17% on Wednesday to $0.45 against a previous-day closing price of $0.48. With 0.28 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.11 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $0.5000 whereas the lowest price it dropped to was $0.4084. The 52-week range on LHDX shows that it touched its highest point at $9.63 and its lowest point at $0.32 during that stretch.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of LHDX was up-trending over the past week, with a rise of 15.49%, but this was down by -58.49% over a month. Three-month performance dropped to -76.90% while six-month performance fell -77.02%. The stock lost -92.13% in the past year, while it has lost -94.77% so far this year. A look at the trailing 12-month EPS for LHDX yields -1.14 with Next year EPS estimates of -1.19. For the next quarter, that number is -0.08. This implies an EPS growth rate of -84.50% for this year and -136.00% for next year.

Float and Shares Shorts:

At present, 39.93 million LHDX shares are outstanding with a float of 36.58 million shares on hand for trading. On Oct 13, 2022, short shares totaled 71410.0, which was 0.18% higher than short shares on Sep 14, 2022. In addition to Mr. Erik T. Engelson as the firm’s Pres, CEO & Director, Dr. Debkishore Mitra Ph.D. serves as its CTO & Director.

Institutional Ownership:

Through their ownership of 58.01% of LHDX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 39.28% of LHDX, in contrast to 2.95% held by mutual funds. Shares owned by individuals account for 10.10%. As the largest shareholder in LHDX with 34.25% of the stake, EPIQ Capital Group LLC holds 13,737,370 shares worth 13,737,370. A second-largest stockholder of LHDX, The Vanguard Group, Inc., holds 628,530 shares, controlling over 1.57% of the firm’s shares. Citigroup Global Markets, Inc. is the third largest shareholder in LHDX, holding 618,643 shares or 1.54% stake. With a 1.16% stake in LHDX, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 464,745 shares are owned by the mutual fund manager. The AlphaCentric LifeSci Healthcare F, which owns about 0.74% of LHDX stock, is the second-largest Mutual Fund holder. It holds 297,500 shares valued at 0.29 million. Vanguard Extended Market Index Fu holds 0.32% of the stake in LHDX, owning 130,090 shares worth 0.12 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for LHDX since 3 analysts follow the stock currently. There are 0 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With LHDX analysts setting a high price target of $4.00 and a low target of $0.75, the average target price over the next 12 months is $2.38. Based on these targets, LHDX could surge 788.89% to reach the target high and rise by 66.67% to reach the target low. Reaching the average price target will result in a growth of 428.89% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. LHDX will report FY 2022 earnings on 03/09/2023. Analysts have provided yearly estimates in a range of -$0.23 being high and -$0.81 being low. For LHDX, this leads to a yearly average estimate of -$0.60. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Lucira Health Inc. surprised analysts by $0.00 when it reported -$0.38 EPS against a consensus estimate of -$0.38. The surprise factor in the prior quarter was $0.00. Based on analyst estimates, the high estimate for the next quarter is $0.19 and the low estimate is -$0.40. The average estimate for the next quarter is thus -$0.08.

Summary of Insider Activity:

Insiders traded LHDX stock several times over the past three months with 1 Buys and 5 Sells. In these transactions, 20,000 shares were bought while 27,666 shares were sold. The number of buy transactions has increased to 3 while that of sell transactions has risen to 13 over the past year. The total number of shares bought during that period was 60,000 while 88,040 shares were sold.

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