Nano-X Imaging’s (NNOX) “Neutral” Rating Reiterated at Alliance Global Partners

Nano-X Imaging (NASDAQ:NNOX)‘s stock had its “neutral” rating reaffirmed by stock analysts at Alliance Global Partners in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $3.00 target price on the stock, down from their previous target price of $5.00. Alliance Global Partners’ price target would suggest a potential upside of 127.27% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. D. Boral Capital reissued a “buy” rating and issued a $5.00 target price on shares of Nano-X Imaging in a research note on Monday, April 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nano-X Imaging in a research note on Friday, April 10th. Finally, Zacks Research raised shares of Nano-X Imaging from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $4.00.

Nano-X Imaging Stock Up 1.5%

Shares of NNOX opened at $1.32 on Tuesday. The stock has a market cap of $91.86 million, a P/E ratio of -0.84 and a beta of 1.24. The business’s 50 day moving average price is $1.69 and its 200-day moving average price is $2.29. Nano-X Imaging has a 52 week low of $0.73 and a 52 week high of $5.69.

Nano-X Imaging (NASDAQ:NNOX) last posted its quarterly earnings data on Monday, April 20th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.35). The company had revenue of $3.72 million for the quarter, compared to the consensus estimate of $3.99 million. Nano-X Imaging had a negative net margin of 716.44% and a negative return on equity of 70.96%. During the same period last year, the business earned ($0.21) EPS. On average, equities analysts anticipate that Nano-X Imaging will post -0.6 EPS for the current year.

Institutional Trading of Nano-X Imaging

Institutional investors have recently added to or reduced their stakes in the business. Weiss Asset Management LP bought a new stake in shares of Nano-X Imaging in the 4th quarter worth $8,424,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Nano-X Imaging by 232.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,160,806 shares of the company’s stock valued at $10,793,000 after purchasing an additional 1,510,806 shares in the last quarter. UBS Group AG lifted its holdings in shares of Nano-X Imaging by 40.8% during the fourth quarter. UBS Group AG now owns 1,530,104 shares of the company’s stock valued at $4,284,000 after purchasing an additional 443,459 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Nano-X Imaging by 711.1% during the first quarter. Bank of America Corp DE now owns 484,328 shares of the company’s stock valued at $1,099,000 after buying an additional 424,618 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Nano-X Imaging by 4,646.0% during the fourth quarter. Jane Street Group LLC now owns 206,073 shares of the company’s stock valued at $577,000 after buying an additional 201,731 shares during the last quarter. 21.49% of the stock is currently owned by hedge funds and other institutional investors.

About Nano-X Imaging

Nano-X Imaging Ltd. is a medical technology company developing and commercializing a digital X-ray imaging platform designed to lower the cost and increase the accessibility of diagnostic imaging. Its flagship product, the Nanox.ARC, leverages a proprietary micro-electromechanical system (MEMS) based digital X-ray source and advanced image processing software to provide 2D and 3D imaging capabilities on a compact footprint. The system aims to streamline radiology workflows and facilitate point-of-care diagnostics in hospitals, clinics and outpatient settings.

The Nanox.ARC platform integrates a novel cold cathode X-ray source, which enables multiple emission points without the need for rotating anode tubes.