Nano-X Imaging Ltd. (NASDAQ:NNOX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Nano-X Imaging Ltd. (NASDAQ:NNOX) have received a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, one has assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $5.00.

Several analysts have recently weighed in on the stock. D. Boral Capital reiterated a “buy” rating and set a $5.00 target price on shares of Nano-X Imaging in a research report on Monday, April 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nano-X Imaging in a research report on Friday, April 10th. Zacks Research lowered shares of Nano-X Imaging from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 22nd. Finally, Cantor Fitzgerald upgraded shares of Nano-X Imaging to a “strong-buy” rating in a research report on Wednesday, March 4th.

Nano-X Imaging Price Performance

NASDAQ NNOX opened at $1.76 on Friday. The firm has a market capitalization of $122.48 million, a price-to-earnings ratio of -1.11 and a beta of 1.21. The company’s fifty day moving average is $1.98 and its two-hundred day moving average is $2.57. Nano-X Imaging has a 52-week low of $1.59 and a 52-week high of $5.69.

Nano-X Imaging (NASDAQ:NNOX) last posted its quarterly earnings results on Monday, April 20th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.35). The company had revenue of $3.72 million during the quarter, compared to analyst estimates of $3.99 million. Nano-X Imaging had a negative return on equity of 64.65% and a negative net margin of 790.87%.During the same quarter in the prior year, the business earned ($0.21) earnings per share. As a group, sell-side analysts expect that Nano-X Imaging will post -0.65 earnings per share for the current fiscal year.

Institutional Trading of Nano-X Imaging

Several institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Nano-X Imaging by 8.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,182 shares of the company’s stock valued at $182,000 after buying an additional 2,724 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Nano-X Imaging by 20.5% in the second quarter. The Manufacturers Life Insurance Company now owns 22,433 shares of the company’s stock valued at $116,000 after buying an additional 3,818 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Nano-X Imaging by 62.1% in the third quarter. Russell Investments Group Ltd. now owns 13,787 shares of the company’s stock valued at $51,000 after buying an additional 5,283 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Nano-X Imaging by 64.6% in the third quarter. BNP Paribas Financial Markets now owns 19,743 shares of the company’s stock valued at $73,000 after buying an additional 7,749 shares in the last quarter. Finally, Mariner LLC boosted its position in Nano-X Imaging by 70.5% in the fourth quarter. Mariner LLC now owns 20,825 shares of the company’s stock valued at $58,000 after buying an additional 8,614 shares in the last quarter. 21.49% of the stock is currently owned by institutional investors and hedge funds.

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.