There’s Still Time to Buy LumiraDx Limited (NASDAQ:LMDX) Stock

In yesterday’s Wall Street session, LumiraDx Limited (NASDAQ:LMDX) shares traded at $0.09, down -6.77% from the previous session.

4 analysts cover LumiraDx Limited (NASDAQ:LMDX), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $1.75 and a low of $0.65, we find $1.00. Given the previous closing price of $0.10, this indicates a potential upside of 900.0 percent. LMDX stock price is now -61.83% away from the 50-day moving average and -83.55% away from the 200-day moving average. The market capitalization of the company currently stands at $32.38M.

The stock has received a hold rating from 1 analysts and a buy rating from 3. Brokers who have rated the stock have averaged $1.10 as their price target over the next twelve months.

With the price target of $20, Evercore ISI recently initiated with Outperform rating for LumiraDx Limited (NASDAQ: LMDX).

A total of 70.97% of the company’s stock is owned by insiders.

On Friday morning LumiraDx Limited (NASDAQ: LMDX) stock kicked off with the opening price of $0.0950. During the past 12 months, LumiraDx Limited has had a low of $0.08 and a high of $1.61. The fifty day moving average price for LMDX is $0.2283 and a two-hundred day moving average price translates $0.5397 for the stock.

The latest earnings results from LumiraDx Limited (NASDAQ: LMDX) was released for Jun, 2023. According to the Diagnostics & Research Company, earnings per share came in at -$0.16, missing analysts’ expectations of -$0.14 by -0.02. This compares to -$0.58 EPS in the same period last year. The net profit margin was -268.45% and return on equity was -1752.89% for LMDX. The company reported revenue of $21.0 million for the quarter, compared to $44.73 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -53.04 percent. For the current quarter, analysts expect LMDX to generate $20.21M in revenue.

LumiraDx Limited(LMDX) Company Profile

LumiraDx Limited operates as a point of care diagnostics company. The company focuses on transforming community-based healthcare by providing critical diagnostic information to healthcare providers. It manufactures and commercializes a diagnostic platform that supports various tests with lab comparable performance at the point of care. The company has tests on the market and in development covering infectious diseases, cardiovascular diseases, diabetes, and coagulation disorders, as well as a portfolio of COVID-19 testing solutions. Its diagnostic testing solutions are deployed by governments and healthcare institutions across laboratories, urgent care, physician offices, pharmacies, schools, and workplaces to screen, diagnose, and monitor wellness, as well as disease. The company is headquartered in London, the United Kingdom.

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