What happened? After rising sharply on Monday, shares of medical technology company Lucira Health (NASDAQ: LHDX) are going in the opposite direction on Tuesday. The company's stock dropped by as much as 22.6% today and was down by 18.5% as of 1:51 p.m. EDT. Lucira Health did not report any news today, but we can attribute its woes on the stock market to bearish commentary from a Wall Street analyst. So what Bank of America analyst Derik de Bruin downgraded Lucira Health's stock to underperform from buy. The analyst also gave the stock a price target of $9. Shares of the company closed yesterday's trading session at $10.91. To understand the reasons behind de Bruin's lack of enthusiasm regarding Lucira Health's prospects, a little bit of context is needed. Yesterday, the company reported that the U.S. Food and Drug Administration (FDA) had granted an Emergency Use Authorization (EUA) to its Lucira Check It COVID-19 test kit for over-the-counter (OTC) sale. Image source: Getty Images. This bit of news seemed like a positive development for Lucira Health as the OTC availability of its coronavirus test kit will almost certainly increase its accessibility to the general public and could positively impact its sales. However, the healthcare company also provided less than impressive preliminary first-quarter results. Lucira Health expects revenue between $4 million and $4.5 million, which is well below the current consensus analyst estimate of $9.42 million. Bank of America's forecast was for the company to report $12.5 million in revenue during the first quarter, and de Bruin believes that this (likely) top-line miss will be due to a lack of demand for the company's COVID-19 test kit. Also, the COVID-19 testing market as a whole is taking a hit due to the rollout of vaccines for the disease, which further complicates matters for Lucira Health. Now what Lucira Health is set to report its first-quarter earnings on May 13. The company's financial results will tell investors more regarding the impact the recent EUA will have on its overall performance. 10 stocks we like better than Lucira Health, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Lucira Health, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Bank of America is an advertising partner of The Ascent, a Motley Fool company. Prosper Junior Bakiny has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source