Cantor Fitzgerald Upgrades Nano-X Imaging (NASDAQ:NNOX) to Strong-Buy

Nano-X Imaging (NASDAQ:NNOX) was upgraded by stock analysts at Cantor Fitzgerald to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other equities analysts have also weighed in on NNOX. D. Boral Capital restated a “buy” rating and issued a $5.00 price objective on shares of Nano-X Imaging in a report on Tuesday. LADENBURG THALM/SH SH raised Nano-X Imaging to a “strong-buy” rating in a report on Thursday, November 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nano-X Imaging in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $7.00.

Nano-X Imaging Stock Performance

Shares of NNOX stock opened at $2.59 on Wednesday. The company has a market capitalization of $169.34 million, a price-to-earnings ratio of -1.96 and a beta of 1.38. Nano-X Imaging has a one year low of $2.11 and a one year high of $6.39. The company’s 50-day moving average is $2.71 and its 200 day moving average is $3.38.

Hedge Funds Weigh In On Nano-X Imaging

Several hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Nano-X Imaging by 8.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,182 shares of the company’s stock valued at $182,000 after acquiring an additional 2,724 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Nano-X Imaging by 20.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,433 shares of the company’s stock valued at $116,000 after purchasing an additional 3,818 shares during the period. Russell Investments Group Ltd. increased its position in shares of Nano-X Imaging by 62.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 13,787 shares of the company’s stock valued at $51,000 after purchasing an additional 5,283 shares during the last quarter. Gainplan LLC increased its position in shares of Nano-X Imaging by 63.1% during the 3rd quarter. Gainplan LLC now owns 18,720 shares of the company’s stock valued at $69,000 after purchasing an additional 7,239 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Nano-X Imaging by 64.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 19,743 shares of the company’s stock worth $73,000 after purchasing an additional 7,749 shares during the period. 21.49% of the stock is owned by 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.