LumiraDx Limited [LMDX] is -83.28% lower this YTD. Is it still time to buy?

LumiraDx Limited [NASDAQ: LMDX] gained 4.20% or 0.06 points to close at $1.49 with a heavy trading volume of 227147 shares. The company report on August 18, 2022 that LumiraDx Reports Second Quarter 2022 Results.


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Strong Pipeline Progress and Commercialization Priorities for Newly Authorized Products.

LumiraDx Limited (Nasdaq: LMDX), a next-generation point of care (POC) diagnostics company, today announced operational and financial results for the second quarter ended June 30, 2022.

It opened the trading session at $1.41, the shares rose to $1.51 and dropped to $1.38, the range by which the price of stock traded the whole day. The daily chart for LMDX points out that the company has recorded -76.54% loss over the past six months. However, it is still -27.35% lower than its most recent low trading price.

If we look at the average trading volume of 676.35K shares, LMDX reached to a volume of 227147 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about LumiraDx Limited [LMDX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LMDX shares is $5.62 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LMDX stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Evercore ISI have made an estimate for LumiraDx Limited shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on November 15, 2021. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on October 27, 2021, representing the official price target for LumiraDx Limited stock.

The Average True Range (ATR) for LumiraDx Limited is set at 0.13, with the Price to Sales ratio for LMDX stock in the period of the last 12 months amounting to 0.64. The Price to Book ratio for the last quarter was 24.83, with the Price to Cash per share for the same quarter was set at 0.62.

Trading performance analysis for LMDX stock

LumiraDx Limited [LMDX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.56. With this latest performance, LMDX shares dropped by -12.87% in over the last four-week period, additionally sinking by -76.54% over the last 6 months – not to mention a drop of -85.01% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LMDX stock in for the last two-week period is set at 44.83, with the RSI for the last a single of trading hit 53.50, and the three-weeks RSI is set at 40.78 for LumiraDx Limited [LMDX]. The present Moving Average for the last 50 days of trading for this stock 1.9091, while it was recorded at 1.4070 for the last single week of trading, and 5.6092 for the last 200 days.

LumiraDx Limited [LMDX]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and LumiraDx Limited [LMDX] shares currently have an operating margin of -25.91 and a Gross Margin at +31.19. LumiraDx Limited’s Net Margin is presently recorded at -23.95.

Return on Equity for this stock declined to -108.65, with Return on Assets sitting at -25.38.

LumiraDx Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 2.80.

An analysis of insider ownership at LumiraDx Limited [LMDX]

There are presently around $8 million, or 11.00% of LMDX stock, in the hands of institutional investors. The top three institutional holders of LMDX stocks are: SENVEST MANAGEMENT, LLC with ownership of 2,705,035, which is approximately 0% of the company’s market cap and around 56.46% of the total institutional ownership; MORGAN STANLEY, holding 681,656 shares of the stock with an approximate value of $1.02 million in LMDX stocks shares; and COLONY GROUP LLC, currently with $0.44 million in LMDX stock with ownership of nearly New of the company’s market capitalization.

Positions in LumiraDx Limited stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 17 institutional holders increased their position in LumiraDx Limited [NASDAQ:LMDX] by around 1,498,233 shares. Additionally, 11 investors decreased positions by around 11,325,579 shares, while 6 investors held positions by with 7,711,830 shares. The mentioned changes placed institutional holdings at 5,111,982 shares, according to the latest SEC report filing. LMDX stock had 12 new institutional investments in for a total of 1,029,902 shares, while 7 institutional investors sold positions of 11,170,181 shares during the same period.

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