Lucira Health (NASDAQ:LHDX) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Lucira Health (NASDAQ:LHDX) from a hold rating to a buy rating in a research note issued to investors on Wednesday, Zacks.com reports. Zacks Investment Research currently has $7.50 price objective on the stock.

According to Zacks, “Lucira Health Inc. is a medical technology company. It is focused on the development and commercialization of transformative and infectious disease test kits. Lucira Health Inc. is based in Emeryville, California. “

Separately, Lifesci Capital downgraded shares of Lucira Health from an outperform rating to a market perform rating in a report on Friday, August 13th.

NASDAQ:LHDX opened at $6.39 on Wednesday. Lucira Health has a 1 year low of $4.23 and a 1 year high of $37.99. The firm’s fifty day simple moving average is $6.35 and its 200 day simple moving average is $7.01.

Lucira Health (NASDAQ:LHDX) last posted its earnings results on Thursday, November 11th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.04. Lucira Health had a negative net margin of 230.43% and a negative return on equity of 43.84%. The business had revenue of $14.98 million for the quarter, compared to analyst estimates of $18.00 million. Research analysts forecast that Lucira Health will post -1.77 EPS for the current year.

A number of institutional investors have recently modified their holdings of the business. Morgan Stanley bought a new position in shares of Lucira Health during the 1st quarter worth about $62,000. Walleye Trading LLC bought a new position in shares of Lucira Health during the 2nd quarter worth about $68,000. Royal Bank of Canada lifted its holdings in shares of Lucira Health by 1,664.0% during the 3rd quarter. Royal Bank of Canada now owns 11,660 shares of the company’s stock worth $89,000 after acquiring an additional 10,999 shares during the period. TrinityPoint Wealth LLC bought a new position in shares of Lucira Health during the 2nd quarter worth about $80,000. Finally, Cypress Point Wealth Management LLC lifted its holdings in shares of Lucira Health by 19.7% during the 2nd quarter. Cypress Point Wealth Management LLC now owns 12,177 shares of the company’s stock worth $81,000 after acquiring an additional 2,000 shares during the period. 42.02% of the stock is owned by hedge funds and other institutional investors.

Lucira Health Company Profile

Lucira Health, Inc, a medical technology company, focuses on the development and commercialization of infectious disease test kits. It develops a testing platform that produces molecular testing services. The company offers LUCIRA COVID-19 All-In-One Test Kit, a COVID-19 test kit; and develops influenza A and B viruses test kits.

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