Nano-X Imaging Ltd. (NASDAQ:NNOX) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of Nano-X Imaging Ltd. (NASDAQ:NNOX) have been given a consensus rating of “Moderate Buy” by the six analysts that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $4.33.

A number of research firms have issued reports on NNOX. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nano-X Imaging in a report on Friday, October 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 price target on shares of Nano-X Imaging in a research note on Monday, August 17th.

Nano-X Imaging Stock Performance

NASDAQ NNOX opened at $0.23 on Tuesday. The firm has a 50 day simple moving average of $0.56 and a 200-day simple moving average of $1.53. Nano-X Imaging has a one year low of $0.21 and a one year high of $4.71. The firm has a market cap of $18.40 million, a price-to-earnings ratio of -0.11 and a beta of 1.38.

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

Insider Activity

In related news, Director Dan S. Suesskind bought 60,000 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was purchased at an average cost of $0.76 per share, for a total transaction of $45,600.00. Following the completion of the acquisition, the director owned 110,000 shares in the company, valued at approximately $83,600. This trade represents a 120.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 105,000 shares of company stock valued at $71,550 in the last 90 days.

Institutional Investors Weigh In On Nano-X Imaging

Hedge funds have recently bought and sold shares of the stock. Kestra Advisory Services LLC acquired a new stake in Nano-X Imaging in the 1st quarter valued at about $26,000. Independent Financial Group LLC acquired a new position in shares of Nano-X Imaging during the first quarter worth about $26,000. Hsbc Holdings PLC acquired a new position in shares of Nano-X Imaging during the first quarter worth about $35,000. Engineers Gate Manager LP purchased a new stake in shares of Nano-X Imaging during the second quarter worth approximately $42,000. Finally, PCM Encore LLC purchased a new stake in shares of Nano-X Imaging during the second quarter worth approximately $53,000. Institutional investors and hedge funds own 21.49% of the company’s stock.

About Nano-X Imaging

Nano-X Imaging Ltd. is an Israel-based medical technology company focused on expanding access to diagnostic imaging. The company develops digital X-ray systems and related technologies designed to provide medical imaging in locations that may have limited access to conventional radiology equipment.

Its primary product is the Nanox.ARC, a digital tomosynthesis system intended to generate two- and three-dimensional medical images using a proprietary cold-cathode X-ray source. Nano-X also offers the Nanox.CLOUD platform, which is designed to connect imaging devices with radiologists and other healthcare professionals for image interpretation, workflow management, and related services.