Nano-X Imaging Ltd. (NASDAQ:NNOX) Receives $4.33 Consensus Price Target from Brokerages

Shares of Nano-X Imaging Ltd. (NASDAQ:NNOX) have been given an average recommendation of “Moderate Buy” by the six analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $4.3333.

A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nano-X Imaging in a research note on Wednesday, July 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 price objective on shares of Nano-X Imaging in a research note on Monday, August 17th. Zacks Research upgraded Nano-X Imaging from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Finally, Alliance Global Partners cut Nano-X Imaging from a “buy” rating to a “neutral” rating and decreased their target price for the company from $5.00 to $3.00 in a research note on Tuesday, July 7th.

Nano-X Imaging Trading Down 2.8%

NNOX stock opened at $0.76 on Thursday. The firm’s 50-day moving average is $1.02 and its two-hundred day moving average is $1.73. The company has a market capitalization of $60.03 million, a price-to-earnings ratio of -0.48 and a beta of 1.26. Nano-X Imaging has a 52 week low of $0.73 and a 52 week high of $4.71.

Nano-X Imaging (NASDAQ:NNOX) last posted its quarterly earnings data on Thursday, June 25th. The company reported ($0.16) EPS for the quarter. Nano-X Imaging had a negative net margin of 716.44% and a negative return on equity of 70.96%. The company had revenue of $4.31 million for the quarter. On average, equities research analysts predict that Nano-X Imaging will post -0.6 earnings per share for the current year.

Insider Transactions at Nano-X Imaging

In other Nano-X Imaging news, Director Dan S. Suesskind purchased 50,000 shares of the business’s stock in a transaction on Monday, July 27th. The stock was bought at an average cost of $0.93 per share, with a total value of $46,500.00. Following the acquisition, the director owned 50,000 shares of the company’s stock, valued at $46,500. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Erez Meltzer acquired 36,000 shares of Nano-X Imaging stock in a transaction dated Monday, July 27th. The shares were acquired at an average price of $0.93 per share, with a total value of $33,480.00. Following the transaction, the chief executive officer owned 36,000 shares in the company, valued at approximately $33,480. This represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 95,443 shares of company stock valued at $89,706 over the last three months. 7.74% of the stock is owned by corporate insiders.

Institutional Trading of Nano-X Imaging

Large investors have recently added to or reduced their stakes in the business. Weiss Asset Management LP acquired a new position in Nano-X Imaging in the fourth quarter worth approximately $8,424,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 acquiring an additional 1,510,806 shares during the last quarter. UBS Group AG boosted its stake 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 worth $4,284,000 after acquiring an additional 443,459 shares in the last quarter. State Street Corp boosted its stake in shares of Nano-X Imaging by 1.2% during the 4th quarter. State Street Corp now owns 1,176,202 shares of the company’s stock worth $3,293,000 after acquiring an additional 14,422 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Nano-X Imaging by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 824,594 shares of the company’s stock worth $2,309,000 after acquiring an additional 37,436 shares during the last quarter. 21.49% of the stock is currently owned by institutional investors.

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.