Nano-X Imaging Ltd. (NASDAQ:NNOX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Nano-X Imaging Ltd. (NASDAQ:NNOXGet Free Report) has been given an average recommendation of “Moderate Buy” by the six analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $4.3333.

Several brokerages have recently issued reports on NNOX. Zacks Research raised Nano-X Imaging from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Alliance Global Partners lowered Nano-X Imaging from a “buy” rating to a “neutral” rating and dropped their price target for the company from $5.00 to $3.00 in a research report on Tuesday, July 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $5.00 price target on shares of Nano-X Imaging in a research note on Monday, August 17th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Nano-X Imaging in a report on Wednesday, July 8th.

Read Our Latest Stock Analysis on NNOX

Insider Transactions at Nano-X Imaging

In other Nano-X Imaging news, Director Dan S. Suesskind purchased 50,000 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 50,000 shares in the company, valued at approximately $46,500. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Erez Meltzer purchased 36,000 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were acquired at an average cost of $0.93 per share, with a total value of $33,480.00. Following the completion of the transaction, the chief executive officer owned 36,000 shares in the company, valued at $33,480. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 95,443 shares of company stock worth $89,706 over the last ninety days. Insiders own 7.74% of the company’s stock.

Hedge Funds Weigh In On Nano-X Imaging

A number of institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC purchased a new position in shares of Nano-X Imaging during the first quarter valued at approximately $178,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake 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 worth $10,793,000 after buying an additional 1,510,806 shares during the last quarter. Geode Capital Management LLC increased its position in Nano-X Imaging by 17.5% during the 2nd quarter. Geode Capital Management LLC now owns 810,322 shares of the company’s stock valued at $4,189,000 after buying an additional 120,460 shares in the last quarter. Cetera Investment Advisers increased its position in Nano-X Imaging by 82.0% during the 2nd quarter. Cetera Investment Advisers now owns 48,056 shares of the company’s stock valued at $248,000 after buying an additional 21,657 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Nano-X Imaging by 61.5% during the second quarter. JPMorgan Chase & Co. now owns 65,783 shares of the company’s stock valued at $340,000 after buying an additional 25,048 shares during the last quarter. Institutional investors own 21.49% of the company’s stock.

Nano-X Imaging Price Performance

NNOX stock opened at $0.88 on Thursday. Nano-X Imaging has a 1 year low of $0.73 and a 1 year high of $4.71. The company has a market cap of $68.83 million, a P/E ratio of -0.55 and a beta of 1.26. The firm has a 50-day moving average of $1.10 and a 200 day moving average of $1.79.

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

Nano-X Imaging Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Nano-X Imaging (NASDAQ:NNOX)

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