Analysts who follow LumiraDx Ltd (LMDX) expect an average upside of 138.32% over the next twelve months. These same analysts give the stock an average strong buy rating. This average rating gives the stock an analyst rating of 62, meaning it ranks above the stock’s 62, based on data compiled by InvestorsObserver.
Why are analyst ratings important?
Analysts know better than anyone the inner workings of the companies they follow, with the exception of the management of the companies. You can tell a lot about a company by studying the financial statements, but analysts ask questions on conference calls and understand the intricacies of each of the businesses they cover. Analysts understand how bad weather in any part of the world can disrupt supply chains or disrupt shopping habits. This allows traders to make decisions before a quarterly report that could be worse than expected.
InvestorsObserver aggregates the ratings of all analysts covering a given security, takes the average of these ratings, and then ranks the averages into percentiles. This provides a much better level of granularity than the three levels provided by traditional buy/hold/sell notations.
What’s going on with LumiraDx Ltd Stock today?
LumiraDx Ltd (LMDX) stock is trading at $6.32 at 12:59 p.m. Thursday, March 10, a gain of $0.16, or 2.6% from the previous closing price of $6.16 . The stock has traded between $5.98 and $6.70 so far today. The volume today is light. So far, 16,455 shares have been traded with an average volume of 30,046 shares. Click here for the full stock report for LumiraDx Ltd shares.
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