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

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

A number of research firms have recently commented on NNOX. Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 price objective on shares of Nano-X Imaging in a research note on Monday, August 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nano-X Imaging in a research note on Friday, October 2nd. Finally, Alliance Global Partners cut Nano-X Imaging from a “buy” rating to a “neutral” rating and decreased their target price for the company from $5.00 to $3.00 in a research note on Tuesday, July 7th.

Insider Activity

In other Nano-X Imaging news, Director Dan S. Suesskind purchased 60,000 shares of the business’s stock in a transaction on Monday, September 14th. The stock was bought 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 $83,600. The trade was a 120.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Erez Meltzer acquired 36,000 shares of Nano-X Imaging stock in a transaction dated Monday, July 27th. The shares were acquired at an average price of $0.93 per share, with a total value of $33,480.00. Following the transaction, the chief executive officer owned 36,000 shares in the company, valued at approximately $33,480. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 200,443 shares of company stock worth $161,256. 7.74% of the stock is owned by company insiders.

Institutional Trading of Nano-X Imaging

A number of hedge funds and other institutional investors have recently made changes to their positions in NNOX. Engineers Gate Manager LP acquired a new stake in Nano-X Imaging during the second quarter valued at approximately $42,000. Squarepoint Ops LLC acquired a new position in Nano-X Imaging in the second quarter worth approximately $66,000. PCM Encore LLC acquired a new position in Nano-X Imaging in the second quarter worth approximately $53,000. Bank of America Corp DE increased its holdings in shares of 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 valued at $1,099,000 after buying an additional 424,618 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Nano-X Imaging by 27.8% in the first quarter. Royal Bank of Canada now owns 194,166 shares of the company’s stock valued at $440,000 after buying an additional 42,273 shares in the last quarter. 21.49% of the stock is currently owned by institutional investors.

Nano-X Imaging Price Performance

Shares of NASDAQ:NNOX opened at $0.38 on Friday. Nano-X Imaging has a 12 month low of $0.36 and a 12 month high of $4.71. The stock has a market cap of $30.14 million, a price-to-earnings ratio of -0.18 and a beta of 1.28. The stock’s 50 day moving average price is $0.70 and its 200 day moving average price is $1.28.

Nano-X Imaging (NASDAQ:NNOX) last released its earnings results 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). The firm had revenue of $4.16 million during 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%. On average, sell-side analysts expect that Nano-X Imaging will post -1.23 EPS for the current year.

Nano-X Imaging Company Profile

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.