Nano-X Imaging (NASDAQ:NNOX) Upgraded by Cantor Fitzgerald to “Strong-Buy” Rating

Nano-X Imaging (NASDAQ:NNOX) was upgraded by analysts at Cantor Fitzgerald to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on the company. LADENBURG THALM/SH SH upgraded Nano-X Imaging to a “strong-buy” rating in a research report on Thursday, November 20th. D. Boral Capital reiterated a “buy” rating and issued a $5.00 price target on shares of Nano-X Imaging in a research report on Tuesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nano-X Imaging in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $7.00.

Nano-X Imaging Trading Up 2.3%

NNOX stock opened at $2.65 on Wednesday. The firm’s 50-day moving average is $2.72 and its two-hundred day moving average is $3.39. The company has a market capitalization of $173.26 million, a price-to-earnings ratio of -2.01 and a beta of 1.38. Nano-X Imaging has a 52 week low of $2.11 and a 52 week high of $6.42.

Institutional Trading of Nano-X Imaging

Several institutional investors have recently made changes to their positions in NNOX. Interchange Capital Partners LLC purchased a new position in Nano-X Imaging during the fourth quarter valued at approximately $28,000. Aristides Capital LLC acquired a new stake in shares of Nano-X Imaging during the 4th quarter valued at $30,000. CIBC Bancorp USA Inc. purchased a new position in shares of Nano-X Imaging during the 3rd quarter valued at $40,000. Russell Investments Group Ltd. increased its stake 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 last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Nano-X Imaging in the fourth quarter worth $54,000. 21.49% of the stock is currently 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.