Nano-X Imaging (NASDAQ:NNOX) Issues Earnings Results

Nano-X Imaging (NASDAQ:NNOX) released its quarterly earnings data on Thursday. The company reported ($0.20) EPS for the quarter, Zacks reports. Nano-X Imaging had a negative return on equity of 64.65% and a negative net margin of 790.87%.

Nano-X Imaging Trading Up 4.0%

NASDAQ:NNOX opened at $1.57 on Thursday. The company has a market capitalization of $109.26 million, a P/E ratio of -0.99 and a beta of 1.21. The firm has a 50-day moving average price of $1.87 and a two-hundred day moving average price of $2.42. Nano-X Imaging has a twelve month low of $1.50 and a twelve month high of $5.69.

Institutional Trading of Nano-X Imaging

Large investors have recently modified their holdings of the business. AQR Capital Management LLC purchased a new position in shares of Nano-X Imaging during the 1st quarter worth approximately $178,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Nano-X Imaging by 232.4% in the 1st 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 buying an additional 1,510,806 shares in the last quarter. Geode Capital Management LLC grew its holdings in Nano-X Imaging by 17.5% during the 2nd quarter. Geode Capital Management LLC now owns 810,322 shares of the company’s stock valued at $4,189,000 after buying an additional 120,460 shares during the last quarter. Cetera Investment Advisers increased its position in Nano-X Imaging by 82.0% during the second quarter. Cetera Investment Advisers now owns 48,056 shares of the company’s stock worth $248,000 after buying an additional 21,657 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Nano-X Imaging by 61.5% during the second quarter. JPMorgan Chase & Co. now owns 65,783 shares of the company’s stock worth $340,000 after buying an additional 25,048 shares in the last quarter. 21.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald upgraded shares of Nano-X Imaging to a “strong-buy” rating in a research report on Wednesday, March 4th. Weiss Ratings restated a “sell (e+)” rating on shares of Nano-X Imaging in a report on Friday, April 10th. D. Boral Capital reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Nano-X Imaging in a research note on Monday, April 20th. Finally, Zacks Research raised Nano-X Imaging from a “strong sell” rating to a “hold” rating in a report on Monday. Three research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $5.00.

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.