Lucira Health Inc (NASDAQ:LHDX) Reports Quarterly Results, Beats Estimates of $0.56 EPS

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Lucira Health Inc (NASDAQ:LHDX – Get Rating) reported quarterly earnings data on Thursday. The company reported earnings per share of $0.01 for the quarter, beating Thomson Reuters consensus estimate of ($0.55) by $0.56, MarketWatch Earnings reports. Lucira Health had a negative return on equity of 43.84% and a negative net margin of 230.43%. Lucira Health has updated its first quarter 2022 guidance for EPS and its fiscal year 2022 guidance for EPS.

Lucira Health’s stock traded down $0.22 at midday Friday, hitting $3.16. 8,423 shares of the company were traded, against an average volume of 152,354. Lucira Health has a 52-week low of $3.28 and a 52-week high of $16.60. The stock’s 50-day simple moving average is $5.41 and its 200-day simple moving average is $6.47.

A number of institutional investors have been buying and selling stocks recently. Susquehanna International Group LLP increased its position in Lucira Health by 56.0% during the fourth quarter. Susquehanna International Group LLP now owns 164,512 shares of the company worth $1,416,000 after acquiring an additional 59,041 shares in the last quarter. Millennium Management LLC raised its position in Lucira Health shares by 102.0% in the fourth quarter. Millennium Management LLC now owns 446,301 shares of the company valued at $3,843,000 after purchasing an additional 225,317 shares last quarter. DE Shaw & Co. Inc. acquired a new equity stake in Lucira Health in the fourth quarter valued at approximately $642,000. Geode Capital Management LLC raised its position in Lucira Health shares by 11.1% in the fourth quarter. Geode Capital Management LLC now owns 93,436 shares of the company valued at $804,000 after purchasing an additional 9,349 shares last quarter. Finally, Bank of America Corp DE bought a new position in Lucira Health in the fourth quarter worth about $83,000. Institutional investors and hedge funds hold 45.55% of the company’s shares.

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Separately, Zacks Investment Research upgraded Lucira Health from a “hold” rating to a “buy” rating and set a price target of $4.00 for the company in a report released Wednesday.

About Lucira Health (Get a rating)

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

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