Brokerages Set Nano-X Imaging Ltd. (NASDAQ:NNOX) Price Target at $5.00

Shares of Nano-X Imaging Ltd. (NASDAQ:NNOX) have received a consensus rating of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $5.00.

NNOX has been the topic of a number of recent research reports. Cantor Fitzgerald raised Nano-X Imaging to a “strong-buy” rating in a research note on Wednesday, March 4th. Zacks Research lowered Nano-X Imaging from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Nano-X Imaging in a research note on Friday, April 10th. Finally, D. Boral Capital restated a “buy” rating and set a $5.00 price objective on shares of Nano-X Imaging in a research report on Monday, April 20th.

Hedge Funds Weigh In On Nano-X Imaging

A number of hedge funds have recently made changes to their positions in NNOX. Weiss Asset Management LP bought a new position in shares of Nano-X Imaging during the fourth quarter worth about $8,424,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Nano-X Imaging by 232.4% during the first 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 acquiring an additional 1,510,806 shares during the last quarter. UBS Group AG raised its position in shares of Nano-X Imaging by 40.8% during the fourth quarter. UBS Group AG now owns 1,530,104 shares of the company’s stock worth $4,284,000 after acquiring an additional 443,459 shares during the last quarter. Jane Street Group LLC raised its position in shares of Nano-X Imaging by 4,646.0% during the fourth quarter. Jane Street Group LLC now owns 206,073 shares of the company’s stock worth $577,000 after acquiring an additional 201,731 shares during the last quarter. Finally, ARK Investment Management LLC raised its position in shares of Nano-X Imaging by 31.9% during the fourth quarter. ARK Investment Management LLC now owns 507,421 shares of the company’s stock worth $1,421,000 after acquiring an additional 122,633 shares during the last quarter. 21.49% of the stock is currently owned by institutional investors.

Nano-X Imaging Stock Performance

Shares of NNOX stock opened at $1.71 on Friday. The business’s 50-day moving average price is $2.36 and its 200-day moving average price is $2.94. Nano-X Imaging has a 12 month low of $1.66 and a 12 month high of $5.86. The firm has a market capitalization of $111.80 million, a price-to-earnings ratio of -1.08 and a beta of 1.39.

Nano-X Imaging (NASDAQ:NNOX) last announced its quarterly earnings results on Monday, April 20th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.35). Nano-X Imaging had a negative net margin of 790.87% and a negative return on equity of 64.65%. The firm had revenue of $3.72 million for the quarter, compared to analyst estimates of $3.99 million. During the same period in the previous year, the business posted ($0.21) earnings per share. On average, sell-side analysts predict that Nano-X Imaging will post -0.65 earnings per share for the current fiscal year.

Nano-X Imaging Company Profile

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.