Nano-X Imaging (NASDAQ:NNOX) Announces Earnings Results

Nano-X Imaging (NASDAQ:NNOX) issued its quarterly earnings data on Thursday. The company reported ($0.20) earnings per share (EPS) for the quarter, Zacks reports. Nano-X Imaging had a negative return on equity of 64.65% and a negative net margin of 790.87%.

Nano-X Imaging Stock Up 4.0%

NASDAQ NNOX opened at $1.57 on Thursday. The stock has a market capitalization of $109.26 million, a P/E ratio of -0.99 and a beta of 1.21. Nano-X Imaging has a 52-week low of $1.50 and a 52-week high of $5.69. The firm has a 50-day moving average price of $1.87 and a 200 day moving average price of $2.42.

Hedge Funds Weigh In On Nano-X Imaging

A number of large investors have recently modified their holdings of NNOX. Wells Fargo & Company MN boosted its stake in shares of Nano-X Imaging by 42.9% in the fourth quarter. Wells Fargo & Company MN now owns 82,583 shares of the company’s stock valued at $231,000 after buying an additional 24,788 shares in the last quarter. Atom Investors LP raised its position in Nano-X Imaging by 38.0% in the fourth quarter. Atom Investors LP now owns 81,100 shares of the company’s stock worth $227,000 after acquiring an additional 22,340 shares in the last quarter. Virtu Financial LLC lifted its holdings in Nano-X Imaging by 253.8% in the third quarter. Virtu Financial LLC now owns 57,366 shares of the company’s stock valued at $212,000 after acquiring an additional 41,150 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Nano-X Imaging by 8.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,182 shares of the company’s stock valued at $182,000 after acquiring an additional 2,724 shares during the period. Finally, AQR Capital Management LLC purchased a new stake in shares of Nano-X Imaging during the 1st quarter worth $178,000. 21.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NNOX has been the subject of a number of research reports. Zacks Research raised shares of Nano-X Imaging from a “strong sell” rating to a “hold” rating in a report on Monday. Cantor Fitzgerald raised Nano-X Imaging to a “strong-buy” rating in a report on Wednesday, March 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nano-X Imaging in a research note on Friday, April 10th. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $5.00 price objective on shares of Nano-X Imaging in a research report on Monday, April 20th. Three investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $5.00.

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.