Nano-X Imaging Ltd. (NASDAQ:NNOX) Receives $5.00 Consensus Price Target from Brokerages

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

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

Institutional Trading of Nano-X Imaging

A number of institutional investors have recently modified their holdings of NNOX. Kestra Advisory Services LLC purchased a new stake in shares of Nano-X Imaging during the 1st quarter worth about $26,000. Independent Financial Group LLC purchased a new stake in shares of Nano-X Imaging during the 1st quarter worth about $26,000. Interchange Capital Partners LLC purchased a new stake in shares of Nano-X Imaging during the 4th quarter worth about $28,000. Aristides Capital LLC purchased a new stake in shares of Nano-X Imaging during the 4th quarter worth about $30,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Nano-X Imaging during the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 21.49% of the company’s stock.

Nano-X Imaging Price Performance

NASDAQ NNOX opened at $1.84 on Tuesday. Nano-X Imaging has a 12 month low of $1.59 and a 12 month high of $5.72. The company has a 50-day moving average of $2.13 and a 200-day moving average of $2.70. The company has a market cap of $128.05 million, a P/E ratio of -1.16 and a beta of 1.19.

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

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.