Nano-X Imaging (NASDAQ:NNOX) Stock Price Up 0.6% – Time to Buy?

Nano-X Imaging Ltd. (NASDAQ:NNOX)’s share price rose 0.6% on Monday . The company traded as high as $3.26 and last traded at $3.24. Approximately 1,150,214 shares were traded during trading, a decline of 56% from the average daily volume of 2,638,601 shares. The stock had previously closed at $3.22.

Analyst Ratings Changes

Several research analysts have recently commented on the company. LADENBURG THALM/SH SH raised Nano-X Imaging to a “strong-buy” rating in a research report on Thursday, November 20th. D. Boral Capital reiterated a “buy” rating and issued a $8.00 target price on shares of Nano-X Imaging in a research note on Tuesday, November 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nano-X Imaging in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Nano-X Imaging presently has an average rating of “Buy” and a consensus price target of $8.50.

Nano-X Imaging Stock Down 6.2%

The company has a market cap of $196.79 million, a price-to-earnings ratio of -2.28 and a beta of 1.07. The stock’s 50-day simple moving average is $3.69 and its 200 day simple moving average is $4.28.

Nano-X Imaging (NASDAQ:NNOX) last posted its quarterly earnings data on Thursday, November 20th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.47). The business had revenue of $3.45 million during the quarter, compared to analysts’ expectations of $3.51 million. Nano-X Imaging had a negative net margin of 680.11% and a negative return on equity of 48.75%. On average, sell-side analysts expect that Nano-X Imaging Ltd. will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Nano-X Imaging

Several large investors have recently bought and sold shares of NNOX. CIBC Bancorp USA Inc. acquired a new position in shares of Nano-X Imaging during the 3rd quarter worth about $40,000. PharVision Advisers LLC acquired a new stake in shares of Nano-X Imaging during the third quarter worth about $56,000. Virtu Financial LLC grew its stake in Nano-X Imaging by 253.8% during the 3rd quarter. Virtu Financial LLC now owns 57,366 shares of the company’s stock worth $212,000 after buying an additional 41,150 shares during the last quarter. UBS Group AG increased its position in Nano-X Imaging by 68.8% during the third quarter. UBS Group AG now owns 1,086,645 shares of the company’s stock worth $4,021,000 after buying an additional 442,899 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in Nano-X Imaging by 64.6% in the third quarter. BNP Paribas Financial Markets now owns 19,743 shares of the company’s stock valued at $73,000 after buying an additional 7,749 shares during the last quarter. Hedge funds and other institutional investors own 21.49% of the company’s stock.

Nano-X Imaging Company Profile

Nano-X Imaging Ltd. develops a commercial-grade tomographic imaging device with a digital X-ray source. The company provides teleradiology services and develops artificial intelligence applications to be used in real-world medical imaging applications. Its X-ray source is based on a digital micro-electro-mechanical systems semiconductor cathode.