Nano-X Imaging Ltd. (NASDAQ:NNOX) Stock Has Consensus Target Price of $4.33 According to Analysts

Shares of Nano-X Imaging Ltd. (NASDAQ:NNOX) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $4.33.

Several research firms have recently weighed in on NNOX. Alliance Global Partners lowered shares of Nano-X Imaging from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $5.00 to $3.00 in a report on Tuesday, July 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $5.00 price target on shares of Nano-X Imaging in a report on Monday, August 17th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Nano-X Imaging in a report on Friday, October 2nd.

Insider Activity

In other news, CEO Erez Meltzer acquired 36,000 shares of the firm’s stock in a transaction on Monday, July 27th. The shares were purchased at an average cost of $0.93 per share, with a total value of $33,480.00. Following the completion of the purchase, the chief executive officer owned 36,000 shares of the company’s stock, valued at $33,480. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dan S. Suesskind acquired 60,000 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were purchased at an average cost of $0.76 per share, with a total value of $45,600.00. Following the acquisition, the director owned 110,000 shares of the company’s stock, valued at approximately $83,600. This represents a 120.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 200,443 shares of company stock worth $161,256 over the last ninety days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Engineers Gate Manager LP bought a new position in Nano-X Imaging in the 2nd quarter valued at $42,000. Squarepoint Ops LLC acquired a new position in Nano-X Imaging in the second quarter worth $66,000. PCM Encore LLC acquired a new position in Nano-X Imaging in the second quarter worth $53,000. Bank of America Corp DE boosted its stake in Nano-X Imaging by 711.1% in the first quarter. Bank of America Corp DE now owns 484,328 shares of the company’s stock worth $1,099,000 after purchasing an additional 424,618 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Nano-X Imaging by 27.8% during the first quarter. Royal Bank of Canada now owns 194,166 shares of the company’s stock worth $440,000 after purchasing an additional 42,273 shares during the last quarter. 21.49% of the stock is owned by institutional investors and hedge funds.

Nano-X Imaging Stock Up 0.8%

Shares of NNOX opened at $0.41 on Friday. The company has a 50-day moving average price of $0.73 and a two-hundred day moving average price of $1.30. The stock has a market cap of $32.48 million, a price-to-earnings ratio of -0.19 and a beta of 1.28. Nano-X Imaging has a 12 month low of $0.36 and a 12 month high of $4.71.

Nano-X Imaging (NASDAQ:NNOX) last released its quarterly earnings data on Wednesday, September 9th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.63). The company had revenue of $4.16 million for the quarter, compared to analyst estimates of $5.38 million. Nano-X Imaging had a negative return on equity of 116.93% and a negative net margin of 926.05%. Equities research analysts expect that Nano-X Imaging will post -1.23 EPS for the current fiscal year.

About Nano-X Imaging

Nano-X Imaging Ltd. is a medical technology company developing digital X-ray and medical imaging solutions. Its primary product is the Nanox.ARC, a digitally driven X-ray system designed to provide imaging capabilities in hospitals, clinics and other healthcare settings. The company’s approach is intended to support more accessible and affordable diagnostic imaging, including in locations where conventional radiology infrastructure may be limited.

Nano-X also offers cloud-based services through its Nanox.CLOUD platform, which is designed to connect imaging devices, manage examinations and facilitate the transmission and review of medical images.