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

Nano-X Imaging Ltd. (NASDAQ:NNOX) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, one has given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $4.00.

NNOX has been the subject of a number of analyst reports. Zacks Research raised shares of Nano-X Imaging from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Nano-X Imaging in a research note on Wednesday, July 8th. Alliance Global Partners downgraded shares of Nano-X Imaging from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $5.00 to $3.00 in a report on Tuesday, July 7th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $5.00 price target on shares of Nano-X Imaging in a research note on Monday, April 20th.

Insider Activity

In other Nano-X Imaging news, CEO Erez Meltzer bought 36,000 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The stock was purchased at an average price of $0.93 per share, for a total transaction of $33,480.00. Following the completion of the transaction, the chief executive officer owned 36,000 shares of the company’s stock, valued at $33,480. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dan S. Suesskind bought 50,000 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were acquired at an average cost of $0.93 per share, for a total transaction of $46,500.00. Following the purchase, the director directly owned 50,000 shares in the company, valued at $46,500. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 7.74% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Nano-X Imaging by 8.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,182 shares of the company’s stock valued at $182,000 after buying an additional 2,724 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Nano-X Imaging by 20.5% in the second quarter. The Manufacturers Life Insurance Company now owns 22,433 shares of the company’s stock worth $116,000 after buying an additional 3,818 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings 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 buying an additional 5,283 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Nano-X Imaging by 64.6% during the third quarter. BNP Paribas Financial Markets now owns 19,743 shares of the company’s stock worth $73,000 after acquiring an additional 7,749 shares during the last quarter. Finally, Mariner LLC boosted its position in shares of Nano-X Imaging by 70.5% during the fourth quarter. Mariner LLC now owns 20,825 shares of the company’s stock worth $58,000 after acquiring an additional 8,614 shares during the last quarter. 21.49% of the stock is currently owned by institutional investors.

Nano-X Imaging Trading Up 1.5%

Shares of NASDAQ:NNOX opened at $0.98 on Friday. The stock has a 50 day moving average of $1.41 and a 200 day moving average of $2.04. The company has a market cap of $68.20 million, a PE ratio of -0.62 and a beta of 1.24. Nano-X Imaging has a 12-month low of $0.73 and a 12-month high of $4.95.

Nano-X Imaging (NASDAQ:NNOX) last released its earnings results on Thursday, June 25th. The company reported ($0.16) EPS for the quarter. 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 $4.31 million for the quarter. Equities research analysts predict that Nano-X Imaging will post -0.6 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.