In the last trading session, 15.26 million LumiraDx Limited (NASDAQ:LMDX) shares changed hands as the company’s beta touched 1.58. With the company’s per share price at $0.14 changed hands at $0.0 or 0.00% during last session, the market valuation stood at $48.84M. LMDX’s last price was a discount, traded about -1050.0% off its 52-week high of $1.61. The share price had its 52-week low at $0.08, which suggests the last value was 42.86% up since then. When we look at LumiraDx Limited’s average trading volume, we note the 10-day average is 16.05 million shares, with the 3-month average coming to 10.44 million.
Analysts gave the LumiraDx Limited (LMDX) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.67. If we narrow down to specifics, the data shows that 0 out of 3 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended LMDX as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. LumiraDx Limited’s EPS for the current quarter is expected to be -$0.09.
LumiraDx Limited (NASDAQ:LMDX) trade information
The company’s shares are showing year-to-date downside of -85.00%, with the 5-day performance at 48.35% in the green. However, in the 30-day time frame, LumiraDx Limited (NASDAQ:LMDX) is 45.16% up. Looking at the short shares, we see there were 2.95 million shares sold at short interest cover period of 0.14 days.
The consensus price target for the stock as assigned by Wall Street analysts is $1.13, meaning bulls need an upside of 87.61% from its current market value. According to analyst projections, LMDX’s forecast low is $0.65 with $1.75 as the target high. To hit the forecast high, the stock’s price needs a -1150.0% plunge from its current level, while the stock would need to soar -364.29% for it to hit the projected low.
LumiraDx Limited (LMDX) estimates and forecasts
Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for LumiraDx Limited will rise 80.90%, while the growth in revenue is estimated to hit 71.90% for the next quarter. Year-over-year growth is forecast to reach -64.20% down from the last financial year.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $20.05 million. 2 analysts are of the opinion that LumiraDx Limited’s revenue for the quarter ending Dec 2023 will be $27.75 million. The company’s revenue for the corresponding quarters a year ago was $37.39 million and $41.12 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -46.40%. The estimates for the next quarter sales put growth at -32.50%.
The 2023 estimates are for LumiraDx Limited earnings to increase by 33.75%.
LumiraDx Limited is expected to release its next quarterly earnings report between November 10 and November 14.
LumiraDx Limited (NASDAQ:LMDX)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 76.87% of LumiraDx Limited shares while 25.67% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 110.99%. There are 25.67% institutions holding the LumiraDx Limited stock share, with Bill & Melinda Gates Foundation the top institutional holder. As of Sep 29, 2023, the company held 8.69% of the shares, roughly 14.29 million LMDX shares worth $1.93 million.
Senvest Management LLC holds the second largest percentage of outstanding shares, with 6.45% or 10.59 million shares worth $1.43 million as of Sep 29, 2023.
With 86680.0 shares estimated at $11701.0 under it, the former controlled 0.05% of total outstanding shares.