Nano-X Imaging Ltd. (NASDAQ:NNOX) Given Consensus Rating of “Moderate Buy” by Brokerages

Nano-X Imaging Ltd. (NASDAQ:NNOX) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has assigned a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $5.00.

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

Hedge Funds Weigh In On Nano-X Imaging

A number of institutional investors have recently modified their holdings of the stock. Weiss Asset Management LP acquired a new position in Nano-X Imaging in the fourth quarter valued at approximately $8,424,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Nano-X Imaging by 232.4% in 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 valued at $10,793,000 after buying an additional 1,510,806 shares during the period. UBS Group AG lifted its holdings in Nano-X Imaging by 40.8% in the fourth quarter. UBS Group AG now owns 1,530,104 shares of the company’s stock valued at $4,284,000 after buying an additional 443,459 shares during the period. Bank of America Corp DE lifted its holdings in 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 during the period. Finally, Jane Street Group LLC lifted its holdings in Nano-X Imaging by 4,646.0% in the fourth quarter. Jane Street Group LLC now owns 206,073 shares of the company’s stock valued at $577,000 after buying an additional 201,731 shares during the period. 21.49% of the stock is owned by institutional investors.

Nano-X Imaging Stock Up 2.9%

NASDAQ:NNOX opened at $1.76 on Friday. Nano-X Imaging has a 12 month low of $1.59 and a 12 month high of $5.69. The firm has a market cap of $122.48 million, a PE ratio of -1.11 and a beta of 1.21. The company’s 50-day moving average price is $1.98 and its two-hundred day moving average price is $2.57.

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

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.