Nano-X Imaging (NASDAQ:NNOX) Shares Up 0.8% – Here’s Why

Nano-X Imaging Ltd. (NASDAQ:NNOX)’s stock price shot up 0.8% on Wednesday . The company traded as high as $2.48 and last traded at $2.45. 704,478 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 1,261,493 shares. The stock had previously closed at $2.43.

Analysts Set New Price Targets

Several brokerages have recently commented on NNOX. D. Boral Capital reduced their target price on shares of Nano-X Imaging from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. LADENBURG THALM/SH SH raised shares of Nano-X Imaging to a “strong-buy” rating in a report on Thursday, November 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nano-X Imaging in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $7.00.

Nano-X Imaging Trading Up 0.8%

The stock has a market cap of $160.18 million, a P/E ratio of -1.86 and a beta of 1.31. The business’s fifty day simple moving average is $2.77 and its 200 day simple moving average is $3.46.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Interchange Capital Partners LLC acquired a new position in Nano-X Imaging during the 4th quarter worth $28,000. Aristides Capital LLC bought a new stake in shares of Nano-X Imaging during the fourth quarter worth $30,000. CIBC Bancorp USA Inc. bought a new stake in Nano-X Imaging during the 3rd quarter worth about $40,000. Russell Investments Group Ltd. raised its holdings in Nano-X Imaging by 62.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 13,787 shares of the company’s stock worth $51,000 after purchasing an additional 5,283 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Nano-X Imaging during the 4th quarter valued at about $54,000. Institutional investors own 21.49% of the company’s stock.

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.