D. Boral Capital Has Lowered Expectations for Nano-X Imaging (NASDAQ:NNOX) Stock Price

Nano-X Imaging (NASDAQ:NNOX) had its price target cut by D. Boral Capital from $8.00 to $5.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. D. Boral Capital’s target price suggests a potential upside of 119.30% from the stock’s previous close.

A number of other research firms have also commented on NNOX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano-X Imaging in a report on Monday, December 29th. LADENBURG THALM/SH SH upgraded Nano-X Imaging to a “strong-buy” rating in a research report on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Nano-X Imaging presently has a consensus rating of “Buy” and an average price target of $7.00.

Nano-X Imaging Trading Down 5.8%

Shares of NASDAQ:NNOX opened at $2.28 on Wednesday. Nano-X Imaging has a 1-year low of $2.27 and a 1-year high of $7.82. The stock has a market capitalization of $149.07 million, a P/E ratio of -1.73 and a beta of 1.31. The business has a 50-day moving average price of $3.12 and a two-hundred day moving average price of $3.72.

Nano-X Imaging (NASDAQ:NNOX) last issued its earnings results 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 during 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%. As a group, equities analysts predict that Nano-X Imaging will post -0.92 EPS for the current year.

Institutional Trading of Nano-X Imaging

Hedge funds have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Nano-X Imaging by 232.4% in the first 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 during the period. UBS Group AG lifted its holdings in shares of Nano-X Imaging by 40.8% during the 4th quarter. UBS Group AG now owns 1,530,104 shares of the company’s stock valued at $4,284,000 after purchasing an additional 443,459 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Nano-X Imaging by 17.5% in the 2nd 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 period. GMT Capital Corp acquired a new position in shares of Nano-X Imaging in the 2nd quarter valued at approximately $490,000. Finally, ARK Investment Management LLC increased its stake in Nano-X Imaging by 37.1% during the 2nd quarter. ARK Investment Management LLC now owns 315,093 shares of the company’s stock worth $1,629,000 after purchasing an additional 85,316 shares in the last quarter. Institutional investors and hedge funds own 21.49% of the company’s stock.

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.