Nano-X Imaging (NASDAQ:NNOX) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Nano-X Imaging (NASDAQ:NNOX) announced its quarterly earnings data on Thursday. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.02, Zacks reports. The firm had revenue of $3.00 million during the quarter, compared to analyst estimates of $3.98 million. Nano-X Imaging had a negative return on equity of 27.63% and a negative net margin of 465.38%.

Nano-X Imaging Trading Down 2.1%

Shares of NASDAQ NNOX opened at $5.13 on Friday. The stock has a 50 day simple moving average of $5.11 and a 200-day simple moving average of $6.34. The company has a market cap of $296.41 million, a PE ratio of -6.04 and a beta of 2.03. Nano-X Imaging has a 12-month low of $3.75 and a 12-month high of $11.00.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. D. Boral Capital lowered their price objective on Nano-X Imaging from $15.00 to $10.00 and set a “buy” rating for the company in a report on Friday. Cantor Fitzgerald decreased their target price on Nano-X Imaging from $12.00 to $9.00 and set an “overweight” rating for the company in a research note on Tuesday, April 1st. Finally, Alliance Global Partners restated a “buy” rating on shares of Nano-X Imaging in a research note on Thursday.

Institutional Investors Weigh In On Nano-X Imaging

An institutional investor recently bought a new position in Nano-X Imaging stock. AQR Capital Management LLC purchased a new stake in Nano-X Imaging Ltd. (NASDAQ:NNOX) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,555 shares of the company’s stock, valued at approximately $178,000. AQR Capital Management LLC owned approximately 0.06% of Nano-X Imaging as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 21.49% of the company’s stock.

Nano-X Imaging Company Profile

Nano-X Imaging Ltd. develops a commercial-grade tomographic imaging device with a digital X-ray source. The company provides teleradiology services and develops artificial intelligence applications to be used in real-world medical imaging applications. Its X-ray source is based on a digital micro-electro-mechanical systems semiconductor cathode.