Nano-X Imaging Ltd. (NASDAQ:NNOX) Stock Rated “Moderate Buy” by Wall Street Brokerages

Shares of Nano-X Imaging Ltd. (NASDAQ:NNOX) have received an average rating of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $4.33.

Several equities research analysts have issued reports on NNOX shares. Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 price target on shares of Nano-X Imaging in a report on Monday, August 17th. Alliance Global Partners cut Nano-X Imaging from a “buy” rating to a “neutral” rating and cut their price objective for the company from $5.00 to $3.00 in a report on Tuesday, July 7th. Zacks Research upgraded Nano-X Imaging from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Nano-X Imaging in a research note on Wednesday, July 8th.

Insiders Place Their Bets

In related news, Director Dan S. Suesskind acquired 60,000 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were acquired at an average cost of $0.76 per share, with a total value of $45,600.00. Following the transaction, the director owned 110,000 shares of the company’s stock, valued at $83,600. The trade was a 120.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Erez Meltzer bought 36,000 shares of Nano-X Imaging stock in a transaction that occurred on Monday, July 27th. The stock was bought at an average cost of $0.93 per share, with a total value of $33,480.00. Following the completion of the purchase, the chief executive officer owned 36,000 shares in the company, valued at approximately $33,480. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 175,443 shares of company stock worth $150,006. 7.74% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Engineers Gate Manager LP acquired a new position in Nano-X Imaging during the 2nd quarter worth approximately $42,000. Squarepoint Ops LLC bought a new position in Nano-X Imaging in the second quarter valued at $66,000. PCM Encore LLC acquired a new stake in Nano-X Imaging in the 2nd quarter valued at $53,000. Bank of America Corp DE lifted its position in Nano-X Imaging by 711.1% during the 1st quarter. Bank of America Corp DE now owns 484,328 shares of the company’s stock worth $1,099,000 after buying an additional 424,618 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in Nano-X Imaging by 27.8% during the 1st quarter. Royal Bank of Canada now owns 194,166 shares of the company’s stock worth $440,000 after buying an additional 42,273 shares in the last quarter. 21.49% of the stock is currently owned by institutional investors.

Nano-X Imaging Stock Down 3.2%

Shares of NASDAQ NNOX opened at $0.64 on Monday. Nano-X Imaging has a twelve month low of $0.63 and a twelve month high of $4.71. The stock has a market cap of $50.31 million, a price-to-earnings ratio of -0.30 and a beta of 1.26. The company’s fifty day moving average is $0.88 and its 200-day moving average is $1.54.

Nano-X Imaging (NASDAQ:NNOX) last released its quarterly earnings data on Wednesday, September 9th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.63). The firm had revenue of $4.16 million during the quarter, compared to the consensus estimate of $5.38 million. Nano-X Imaging had a negative net margin of 926.05% and a negative return on equity of 116.93%. On average, research analysts anticipate that Nano-X Imaging will post -1.23 EPS for the current fiscal year.

Nano-X Imaging Company Profile

Nano-X Imaging Ltd. (NASDAQ:NNOX) is an Israeli medical technology company focused on expanding access to diagnostic imaging. The company develops digital X-ray systems and related software intended to provide affordable, digitally managed imaging services for hospitals, clinics, and other healthcare providers.

Its principal platform, Nanox.ARC, is a digital X-ray system designed around a proprietary cold-cathode X-ray source and a multi-source imaging architecture. The company also offers Nanox.CLOUD, a cloud-based platform intended to connect imaging devices with radiologists and healthcare networks, and Nanox.AI, software designed to assist with the detection and prioritization of findings in medical images.

Nano-X markets its technologies to customers and partners in multiple international markets, with regulatory clearances and commercial availability varying by product and jurisdiction.