Nano-X Imaging (NASDAQ:NNOX) Rating Increased to Strong-Buy at Cantor Fitzgerald

Nano-X Imaging (NASDAQ:NNOX) was upgraded by research analysts at Cantor Fitzgerald to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Several other equities research analysts also recently issued reports on NNOX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano-X Imaging in a research note on Monday, December 29th. D. Boral Capital restated a “buy” rating and set a $5.00 target price on shares of Nano-X Imaging in a report on Tuesday. Finally, LADENBURG THALM/SH SH upgraded Nano-X Imaging to a “strong-buy” rating in a report on Thursday, November 20th. Three analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Nano-X Imaging has an average rating of “Buy” and an average target price of $7.00.

Nano-X Imaging Price Performance

NASDAQ NNOX opened at $2.65 on Wednesday. Nano-X Imaging has a 1-year low of $2.11 and a 1-year high of $6.42. The firm has a market capitalization of $173.26 million, a P/E ratio of -2.01 and a beta of 1.38. The business’s 50-day simple moving average is $2.72 and its 200-day simple moving average is $3.39.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Aristides Capital LLC bought a new position in shares of Nano-X Imaging during the fourth quarter valued at approximately $30,000. Virtu Financial LLC increased its position in Nano-X Imaging by 26.4% in the fourth quarter. Virtu Financial LLC now owns 72,535 shares of the company’s stock worth $203,000 after buying an additional 15,169 shares during the period. Millennium Management LLC acquired a new position in shares of Nano-X Imaging during the fourth quarter valued at $91,000. Engineers Gate Manager LP grew its position in shares of Nano-X Imaging by 272.2% during the fourth quarter. Engineers Gate Manager LP now owns 52,844 shares of the company’s stock worth $148,000 after acquiring an additional 38,648 shares during the last quarter. Finally, Weiss Asset Management LP bought a new stake in Nano-X Imaging in the 4th quarter valued at about $8,424,000. Institutional investors and hedge funds own 21.49% of the company’s stock.

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.