Nano-X Imaging’s (NNOX) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Nano-X Imaging (NASDAQ:NNOX) in a research report released on Monday morning,Benzinga reports. The firm currently has a $5.00 target price on the stock.

A number of other brokerages have also recently weighed in on NNOX. 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. Alliance Global Partners lowered Nano-X Imaging from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $5.00 to $3.00 in a research note on Tuesday, July 7th. Zacks Research upgraded Nano-X Imaging from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nano-X Imaging in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Nano-X Imaging has a consensus rating of “Moderate Buy” and an average price target of $4.33.

Nano-X Imaging Stock Performance

NASDAQ:NNOX opened at $0.93 on Monday. The stock has a market capitalization of $65.16 million, a P/E ratio of -0.59 and a beta of 1.26. The company has a 50 day moving average price of $1.18 and a 200 day moving average price of $1.85. Nano-X Imaging has a fifty-two week low of $0.73 and a fifty-two week high of $4.71.

Nano-X Imaging (NASDAQ:NNOX) last posted its earnings results on Thursday, June 25th. The company reported ($0.16) earnings per share for the quarter. Nano-X Imaging had a negative net margin of 716.44% and a negative return on equity of 70.96%. The company had revenue of $4.31 million during the quarter. Research analysts forecast that Nano-X Imaging will post -0.6 earnings per share for the current fiscal year.

Insider Activity at Nano-X Imaging

In other Nano-X Imaging news, CEO Erez Meltzer purchased 36,000 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was bought at an average price of $0.93 per share, with a total value of $33,480.00. Following the transaction, the chief executive officer directly owned 36,000 shares of the company’s stock, valued at approximately $33,480. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dan S. Suesskind purchased 50,000 shares of the company’s stock in a transaction on Monday, July 27th. The stock was acquired at an average price of $0.93 per share, with a total value of $46,500.00. Following the purchase, the director owned 50,000 shares of the company’s stock, valued at approximately $46,500. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 95,443 shares of company stock valued at $89,706 in the last three months. 7.74% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NNOX. Weiss Asset Management LP purchased a new stake in Nano-X Imaging during the 4th quarter worth about $8,424,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of 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 during the period. UBS Group AG grew its position 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 worth $4,284,000 after buying an additional 443,459 shares in the last quarter. State Street Corp grew its position in shares of Nano-X Imaging by 1.2% during the fourth quarter. State Street Corp now owns 1,176,202 shares of the company’s stock worth $3,293,000 after buying an additional 14,422 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Nano-X Imaging by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 824,594 shares of the company’s stock worth $2,309,000 after buying an additional 37,436 shares during the period. 21.49% of the stock is owned by institutional investors and hedge funds.

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.