Nano-X Imaging Ltd. (NASDAQ:NNOX) Receives $5.00 Consensus PT from Analysts

Nano-X Imaging Ltd. (NASDAQ:NNOX) has received an average rating of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has issued a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $5.00.

A number of brokerages recently issued reports on NNOX. Zacks Research downgraded shares of Nano-X Imaging from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 22nd. D. Boral Capital reiterated a “buy” rating and issued a $5.00 price objective on shares of Nano-X Imaging in a report on Monday, April 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nano-X Imaging in a report on Friday, April 10th. Finally, Cantor Fitzgerald upgraded Nano-X Imaging to a “strong-buy” rating in a report on Wednesday, March 4th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NNOX. AQR Capital Management LLC purchased a new position in shares of Nano-X Imaging in the 1st quarter valued at about $178,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Nano-X Imaging by 232.4% in 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 during the last quarter. Geode Capital Management LLC increased its holdings 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 acquiring an additional 120,460 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Nano-X Imaging by 82.0% in the 2nd quarter. Cetera Investment Advisers now owns 48,056 shares of the company’s stock valued at $248,000 after acquiring an additional 21,657 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Nano-X Imaging by 61.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 65,783 shares of the company’s stock valued at $340,000 after acquiring an additional 25,048 shares during the last quarter. Hedge funds and other institutional investors own 21.49% of the company’s stock.

Nano-X Imaging Price Performance

Shares of Nano-X Imaging stock opened at $1.74 on Friday. Nano-X Imaging has a 52-week low of $1.70 and a 52-week high of $5.86. The company has a 50 day moving average of $2.40 and a 200 day moving average of $2.99. The company has a market capitalization of $113.43 million, a P/E ratio of -1.09 and a beta of 1.39.

Nano-X Imaging (NASDAQ:NNOX) last issued its quarterly earnings results on Monday, April 20th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.35). Nano-X Imaging had a negative return on equity of 64.65% and a negative net margin of 790.87%.The firm had revenue of $3.72 million during the quarter, compared to analysts’ expectations of $3.99 million. During the same quarter in the prior year, the firm earned ($0.21) EPS. As a group, research analysts anticipate that Nano-X Imaging will post -0.65 earnings per share for the current fiscal year.

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.