Nano-X Imaging Ltd. (NASDAQ:NNOX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

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

Several research analysts have recently commented on NNOX shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Nano-X Imaging in a research note on Friday, April 10th. Zacks Research lowered shares of Nano-X Imaging from a “hold” rating to a “strong sell” rating in a report on Wednesday. Cantor Fitzgerald upgraded shares of Nano-X Imaging to a “strong-buy” rating in a research note on Wednesday, March 4th. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $5.00 price objective on shares of Nano-X Imaging in a research report on Monday.

Institutional Investors Weigh In On Nano-X Imaging

Large investors have recently bought and sold shares of the stock. Aristides Capital LLC acquired a new stake in Nano-X Imaging in the 4th quarter valued at about $30,000. Virtu Financial LLC grew its position in shares of Nano-X Imaging by 26.4% during the fourth quarter. Virtu Financial LLC now owns 72,535 shares of the company’s stock worth $203,000 after buying an additional 15,169 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Nano-X Imaging during the fourth quarter worth approximately $91,000. Engineers Gate Manager LP increased its stake in shares of Nano-X Imaging by 272.2% during the fourth quarter. Engineers Gate Manager LP now owns 52,844 shares of the company’s stock worth $148,000 after buying an additional 38,648 shares during the period. Finally, Weiss Asset Management LP acquired a new stake in Nano-X Imaging in the fourth quarter valued at approximately $8,424,000. Hedge funds and other institutional investors own 21.49% of the company’s stock.

Nano-X Imaging Trading Down 14.0%

NNOX opened at $1.72 on Friday. The stock’s 50-day moving average price is $2.41 and its 200 day moving average price is $3.02. Nano-X Imaging has a 12-month low of $1.70 and a 12-month high of $5.86. The firm has a market cap of $112.45 million, a price-to-earnings ratio of -1.08 and a beta of 1.39.

Nano-X Imaging (NASDAQ:NNOX) last released its earnings results on Monday, April 20th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.35). The firm had revenue of $3.72 million during the quarter, compared to analyst estimates of $3.99 million. Nano-X Imaging had a negative net margin of 680.11% and a negative return on equity of 48.75%. During the same period in the prior year, the firm earned ($0.21) earnings per share. On average, research analysts forecast that Nano-X Imaging will post -0.65 earnings per share for the current year.

Nano-X Imaging Company Profile

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.