Nano-X Imaging (NASDAQ:NNOX) Stock Price Up 0.6% – Should You Buy?

Nano-X Imaging Ltd. (NASDAQ:NNOX) shares were up 0.6% on Monday . The stock traded as high as $3.26 and last traded at $3.24. Approximately 1,150,214 shares changed hands during trading, a decline of 56% from the average daily volume of 2,638,601 shares. The stock had previously closed at $3.22.

Analyst Upgrades and Downgrades

Several brokerages have commented on NNOX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano-X Imaging in a research note on Monday, December 8th. LADENBURG THALM/SH SH raised Nano-X Imaging to a “strong-buy” rating in a research report on Thursday, November 20th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $8.00 price objective on shares of Nano-X Imaging in a report on Tuesday, November 18th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $8.50.

Nano-X Imaging Price Performance

The business has a 50-day simple moving average of $3.73 and a 200 day simple moving average of $4.30. The firm has a market cap of $211.83 million, a PE ratio of -2.45 and a beta of 1.07.

Nano-X Imaging (NASDAQ:NNOX) last posted its quarterly earnings results on Thursday, November 20th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.47). The business had revenue of $3.45 million for the quarter, compared to the consensus estimate of $3.51 million. Nano-X Imaging had a negative net margin of 680.11% and a negative return on equity of 48.75%. On average, equities analysts forecast that Nano-X Imaging Ltd. will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nano-X Imaging

Hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in shares of Nano-X Imaging during the first quarter valued at $139,000. Nuveen LLC purchased a new position in Nano-X Imaging in the 1st quarter worth about $657,000. Hsbc Holdings PLC lifted its holdings in Nano-X Imaging by 20.9% during the 1st quarter. Hsbc Holdings PLC now owns 47,984 shares of the company’s stock valued at $237,000 after buying an additional 8,308 shares in the last quarter. Vident Advisory LLC bought a new stake in Nano-X Imaging during the 1st quarter valued at about $55,000. Finally, AQR Capital Management LLC purchased a new stake in Nano-X Imaging in the 1st quarter valued at about $178,000. Hedge funds and other institutional investors own 21.49% of the company’s stock.

About Nano-X Imaging

Nano-X Imaging Ltd. develops a commercial-grade tomographic imaging device with a digital X-ray source. The company provides teleradiology services and develops artificial intelligence applications to be used in real-world medical imaging applications. Its X-ray source is based on a digital micro-electro-mechanical systems semiconductor cathode.