Nano-X Imaging Ltd. (NASDAQ:NNOX) Receives $5.00 Average PT from Brokerages

Nano-X Imaging Ltd. (NASDAQ:NNOX) has received an average rating of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has given a buy rating and three have issued a strong buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $5.00.

Several brokerages have recently commented on NNOX. Cantor Fitzgerald raised Nano-X Imaging to a “strong-buy” rating in a report on Wednesday, March 4th. Zacks Research downgraded Nano-X Imaging from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nano-X Imaging in a report on Friday, April 10th. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $5.00 target price on shares of Nano-X Imaging in a report on Monday, April 20th.

Nano-X Imaging Stock Down 3.7%

Shares of Nano-X Imaging stock opened at $1.84 on Tuesday. The firm has a market cap of $128.05 million, a price-to-earnings ratio of -1.16 and a beta of 1.19. The business has a fifty day simple moving average of $2.14 and a 200-day simple moving average of $2.71. Nano-X Imaging has a fifty-two week low of $1.59 and a fifty-two week high of $5.72.

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

Institutional Investors Weigh In On Nano-X Imaging

Hedge funds have recently modified their holdings of the stock. Kestra Advisory Services LLC purchased a new stake in shares of Nano-X Imaging during the first quarter valued at $26,000. Independent Financial Group LLC purchased a new stake in shares of Nano-X Imaging during the first quarter valued at $26,000. Interchange Capital Partners LLC purchased a new stake in Nano-X Imaging in the 4th quarter worth about $28,000. Aristides Capital LLC purchased a new stake in Nano-X Imaging in the 4th quarter worth about $30,000. Finally, Hsbc Holdings PLC purchased a new stake in Nano-X Imaging in the 1st quarter worth about $35,000. 21.49% of the stock is owned by hedge funds and other institutional investors.

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.