Nano-X Imaging Ltd. (NASDAQ:NNOX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Nano-X Imaging Ltd. (NASDAQ:NNOX) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, one has issued a buy rating and three have given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $5.00.

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

Institutional Trading of Nano-X Imaging

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Interchange Capital Partners LLC bought a new stake in Nano-X Imaging in the 4th quarter worth approximately $28,000. Aristides Capital LLC bought a new stake in Nano-X Imaging in the 4th quarter worth approximately $30,000. CIBC Bancorp USA Inc. bought a new stake in Nano-X Imaging in the 3rd quarter worth approximately $40,000. Independent Financial Group LLC bought a new stake in Nano-X Imaging in the 1st quarter worth approximately $26,000. Finally, Kestra Advisory Services LLC bought a new stake in Nano-X Imaging in the 1st quarter worth approximately $26,000. Institutional investors own 21.49% of the company’s stock.

Nano-X Imaging Price Performance

NNOX stock opened at $1.67 on Friday. Nano-X Imaging has a twelve month low of $1.59 and a twelve month high of $5.69. The stock has a market cap of $116.22 million, a P/E ratio of -1.05 and a beta of 1.21. The business’s 50-day moving average price is $1.91 and its 200-day moving average price is $2.47.

Nano-X Imaging (NASDAQ:NNOX) last posted its quarterly earnings data on Monday, April 20th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.35). The company had revenue of $3.72 million for the quarter, compared to analysts’ expectations of $3.99 million. Nano-X Imaging had a negative net margin of 790.87% and a negative return on equity of 64.65%. During the same period in the previous year, the firm earned ($0.21) earnings per share. On average, equities research analysts expect that Nano-X Imaging will post -0.65 earnings per share for the current fiscal year.

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.