Insider Buying: Nano-X Imaging (NASDAQ:NNOX) Director Buys $46,500.00 in Stock

Nano-X Imaging Ltd. (NASDAQ:NNOX) Director Dan Suesskind purchased 50,000 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was acquired at an average price of $0.93 per share, with a total value of $46,500.00. Following the purchase, the director directly owned 50,000 shares of the company’s stock, valued at approximately $46,500. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Nano-X Imaging Price Performance

Shares of NASDAQ:NNOX opened at $0.98 on Friday. Nano-X Imaging Ltd. has a 1 year low of $0.73 and a 1 year high of $4.95. The company has a market cap of $68.20 million, a P/E ratio of -0.62 and a beta of 1.24. The stock’s fifty day moving average price is $1.41 and its 200-day moving average price is $2.04.

Nano-X Imaging (NASDAQ:NNOX) last released its quarterly earnings data on Thursday, June 25th. The company reported ($0.16) EPS for the quarter. Nano-X Imaging had a negative return on equity of 70.96% and a negative net margin of 716.44%.The business had revenue of $4.31 million during the quarter. On average, sell-side analysts anticipate that Nano-X Imaging Ltd. will post -0.6 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC bought a new stake in shares of Nano-X Imaging during the 1st quarter valued at about $178,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Nano-X Imaging by 232.4% in the 1st 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 purchasing an additional 1,510,806 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Nano-X Imaging by 17.5% in the second quarter. Geode Capital Management LLC now owns 810,322 shares of the company’s stock worth $4,189,000 after buying an additional 120,460 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Nano-X Imaging by 82.0% in the second quarter. Cetera Investment Advisers now owns 48,056 shares of the company’s stock worth $248,000 after buying an additional 21,657 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Nano-X Imaging by 61.5% during the second quarter. JPMorgan Chase & Co. now owns 65,783 shares of the company’s stock valued at $340,000 after buying an additional 25,048 shares during the period. 21.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NNOX. D. Boral Capital reiterated a “buy” rating and issued a $5.00 price target on shares of Nano-X Imaging in a research note on Monday, April 20th. Alliance Global Partners downgraded shares of Nano-X Imaging from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $5.00 to $3.00 in a research report on Tuesday, July 7th. Zacks Research upgraded shares of Nano-X Imaging from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nano-X Imaging in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.00.

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.