Nano-X Imaging (NASDAQ:NNOX) Director Dan Suesskind Purchases 60,000 Shares of Stock

Nano-X Imaging Ltd. (NASDAQ:NNOX) Director Dan Suesskind acquired 60,000 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were acquired at an average cost of $0.76 per share, with a total value of $45,600.00. Following the acquisition, the director directly owned 110,000 shares of the company’s stock, valued at $83,600. This represents a 120.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Nano-X Imaging Trading Down 1.4%

NNOX stock opened at $0.69 on Wednesday. The company’s 50 day moving average is $0.94 and its 200 day moving average is $1.63. The stock has a market cap of $54.23 million, a price-to-earnings ratio of -0.32 and a beta of 1.26. Nano-X Imaging Ltd. has a 1-year low of $0.67 and a 1-year high of $4.71.

Nano-X Imaging (NASDAQ:NNOX) last announced its earnings results on Wednesday, September 9th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $4.16 million for the quarter, compared to the consensus estimate of $5.38 million. As a group, sell-side analysts forecast that Nano-X Imaging Ltd. will post -0.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Nano-X Imaging

A number of institutional investors have recently made changes to their positions in the business. UBS Group AG raised its position in Nano-X Imaging by 40.8% in the 4th quarter. UBS Group AG now owns 1,530,104 shares of the company’s stock worth $4,284,000 after purchasing an additional 443,459 shares during the period. Bank of America Corp DE boosted its position in Nano-X Imaging by 711.1% during 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 during the period. Griffin Asset Management Inc. grew its stake in shares of Nano-X Imaging by 47.4% during the fourth quarter. Griffin Asset Management Inc. now owns 170,309 shares of the company’s stock valued at $477,000 after buying an additional 54,790 shares during the last quarter. 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 worth $440,000 after buying an additional 42,273 shares during the period. Finally, Sei Investments Co. bought a new stake in shares of Nano-X Imaging in the 1st quarter valued at about $98,000. Hedge funds and other institutional investors own 21.49% of the company’s stock.

Wall Street Analysts Forecast Growth

NNOX has been the subject of a number of research analyst reports. Zacks Research raised shares of Nano-X Imaging from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nano-X Imaging in a research note on Wednesday, July 8th. Alliance Global Partners cut Nano-X Imaging from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $5.00 to $3.00 in a report on Tuesday, July 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $5.00 price objective on shares of Nano-X Imaging in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Nano-X Imaging currently has an average rating of “Moderate Buy” and an average price target of $4.33.

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.