Nano-X Imaging (NASDAQ:NNOX) Stock Price Down 5.9% – What’s Next?

Shares of Nano-X Imaging Ltd. (NASDAQ:NNOX) fell 5.9% on Wednesday . The stock traded as low as $2.99 and last traded at $3.01. 1,130,848 shares traded hands during trading, an increase of 32% from the average session volume of 859,060 shares. The stock had previously closed at $3.20.

Analyst Ratings Changes

A number of research firms have weighed in on NNOX. LADENBURG THALM/SH SH raised shares of Nano-X Imaging to a “strong-buy” rating in a report on Thursday, November 20th. D. Boral Capital reaffirmed a “buy” rating and issued a $8.00 target price on shares of Nano-X Imaging in a research report on Tuesday, November 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nano-X Imaging in a research report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $8.50.

Nano-X Imaging Trading Down 5.9%

The business’s fifty day moving average price is $3.32 and its 200 day moving average price is $3.81. The firm has a market capitalization of $196.79 million, a price-to-earnings ratio of -2.28 and a beta of 1.17.

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

Institutional Trading of Nano-X Imaging

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Nano-X Imaging by 232.4% during 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 acquiring an additional 1,510,806 shares in the last quarter. UBS Group AG grew its position in shares of Nano-X Imaging by 68.8% in the third quarter. UBS Group AG now owns 1,086,645 shares of the company’s stock valued at $4,021,000 after purchasing an additional 442,899 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Nano-X Imaging by 17.5% in the second quarter. Geode Capital Management LLC now owns 810,322 shares of the company’s stock valued at $4,189,000 after purchasing an additional 120,460 shares during the last quarter. ARK Investment Management LLC increased its stake in shares of Nano-X Imaging by 22.1% during the 3rd quarter. ARK Investment Management LLC now owns 384,788 shares of the company’s stock worth $1,424,000 after purchasing an additional 69,695 shares in the last quarter. Finally, Creative Planning raised its position in shares of Nano-X Imaging by 26.1% during the 2nd quarter. Creative Planning now owns 106,309 shares of the company’s stock worth $550,000 after purchasing an additional 21,994 shares during the last quarter. 21.49% of the stock is owned by hedge funds and other institutional investors.

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.