Nano-X Imaging (NASDAQ:NNOX) Posts Earnings Results, Beats Expectations By $0.33 EPS

Nano-X Imaging (NASDAQ:NNOX) posted its quarterly earnings data on Wednesday. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.33, FiscalAI reports. Nano-X Imaging had a negative return on equity of 70.96% and a negative net margin of 716.44%.The firm had revenue of $4.16 million during the quarter, compared to analysts’ expectations of $5.38 million.

Nano-X Imaging Trading Up 12.1%

Shares of NASDAQ NNOX opened at $0.93 on Wednesday. The company has a 50 day simple moving average of $1.00 and a two-hundred day simple moving average of $1.69. The stock has a market cap of $73.09 million, a price-to-earnings ratio of -0.59 and a beta of 1.26. Nano-X Imaging has a 12 month low of $0.71 and a 12 month high of $4.71.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NNOX shares. Alliance Global Partners cut Nano-X Imaging from a “buy” rating to a “neutral” rating and decreased their price target for the company from $5.00 to $3.00 in a research note 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. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nano-X Imaging in a research report on Wednesday, July 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 target price on shares of Nano-X Imaging in a research note on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Nano-X Imaging has a consensus rating of “Moderate Buy” and an average price target of $4.33.

Insider Buying and Selling at Nano-X Imaging

In related news, Director Dan S. Suesskind acquired 50,000 shares of Nano-X Imaging stock in a transaction on Monday, July 27th. The stock was acquired at an average price of $0.93 per share, for a total transaction of $46,500.00. Following the purchase, the director owned 50,000 shares of the company’s stock, valued at approximately $46,500. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Erez Meltzer bought 36,000 shares of the stock in a transaction dated Monday, July 27th. The stock was bought at an average price of $0.93 per share, for a total transaction of $33,480.00. Following the purchase, the chief executive officer directly owned 36,000 shares of the company’s stock, valued at approximately $33,480. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 95,443 shares of company stock valued at $89,706. 7.74% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Aristides Capital LLC purchased a new position in shares of Nano-X Imaging during the 4th quarter valued at approximately $30,000. CIBC Bancorp USA Inc. purchased a new position in Nano-X Imaging in the third quarter valued at $40,000. Russell Investments Group Ltd. raised its position in shares of Nano-X Imaging by 62.1% in the third quarter. Russell Investments Group Ltd. now owns 13,787 shares of the company’s stock worth $51,000 after acquiring an additional 5,283 shares during the period. PharVision Advisers LLC purchased a new stake in shares of Nano-X Imaging during the 3rd quarter worth about $56,000. Finally, Mariner LLC grew its position in shares of Nano-X Imaging by 70.5% during the 4th quarter. Mariner LLC now owns 20,825 shares of the company’s stock valued at $58,000 after acquiring an additional 8,614 shares during the period. 21.49% of the stock is owned by institutional investors and hedge funds.

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.