Nano-X Imaging (NASDAQ:NNOX) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Nano-X Imaging (NASDAQ:NNOX) from a hold rating to a strong sell rating in a research note published on Wednesday morning,Zacks.com reports.

Several other research firms have also recently weighed in on NNOX. Cantor Fitzgerald upgraded shares of Nano-X Imaging to a “strong-buy” rating in a research report on Wednesday, March 4th. D. Boral Capital reiterated a “buy” rating and set a $5.00 price objective on shares of Nano-X Imaging in a research report on Monday, April 20th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Nano-X Imaging in a research report on Friday, April 10th. Three analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $5.00.

Nano-X Imaging Stock Performance

NASDAQ NNOX opened at $1.74 on Wednesday. Nano-X Imaging has a twelve month low of $1.70 and a twelve month high of $5.86. The stock has a market cap of $113.43 million, a price-to-earnings ratio of -1.09 and a beta of 1.39. The firm’s 50 day moving average price is $2.40 and its two-hundred day moving average price is $3.00.

Nano-X Imaging (NASDAQ:NNOX) last posted its quarterly earnings data on Monday, April 20th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.35). Nano-X Imaging had a negative return on equity of 48.75% and a negative net margin of 680.11%.The firm had revenue of $3.72 million for the quarter, compared to analysts’ expectations of $3.99 million. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. On average, research analysts forecast that Nano-X Imaging will post -0.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Nano-X Imaging

A number of institutional investors have recently modified their holdings of NNOX. AQR Capital Management LLC acquired a new stake in shares of Nano-X Imaging during the 1st quarter valued at $178,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Nano-X Imaging by 232.4% 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 buying an additional 1,510,806 shares during the period. Geode Capital Management LLC boosted its stake in shares of Nano-X Imaging by 17.5% during the 2nd quarter. Geode Capital Management LLC now owns 810,322 shares of the company’s stock valued at $4,189,000 after buying an additional 120,460 shares during the period. Cetera Investment Advisers boosted its stake in shares of Nano-X Imaging by 82.0% during the 2nd quarter. Cetera Investment Advisers now owns 48,056 shares of the company’s stock valued at $248,000 after buying an additional 21,657 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Nano-X Imaging by 61.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 65,783 shares of the company’s stock valued at $340,000 after buying an additional 25,048 shares during the period. Institutional investors and hedge funds own 21.49% of the company’s stock.

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.