Nano-X Imaging (NASDAQ:NNOX) CEO Purchases $11,250.00 in Stock

Nano-X Imaging Ltd. (NASDAQ:NNOX) CEO Erez Meltzer purchased 25,000 shares of the company’s stock in a transaction on Monday, October 19th. The stock was purchased at an average cost of $0.45 per share, for a total transaction of $11,250.00. Following the purchase, the chief executive officer directly owned 90,443 shares in the company, valued at approximately $40,699.35. This trade represents a 38.20% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Erez Meltzer also recently made the following trade(s):

• On Tuesday, September 15th, Erez Meltzer purchased 10,000 shares of Nano-X Imaging stock. The shares were acquired at an average cost of $0.69 per share, for a total transaction of $6,900.00.
• On Thursday, September 10th, Erez Meltzer purchased 10,000 shares of Nano-X Imaging stock. The stock was purchased at an average price of $0.78 per share, with a total value of $7,800.00.
• On Monday, August 10th, Erez Meltzer purchased 9,443 shares of Nano-X Imaging stock. The shares were acquired at an average price of $1.03 per share, with a total value of $9,726.29.
• On Monday, July 27th, Erez Meltzer acquired 36,000 shares of Nano-X Imaging stock. The shares were bought at an average cost of $0.93 per share, with a total value of $33,480.00.

Nano-X Imaging Price Performance

Shares of NASDAQ NNOX opened at $0.38 on Friday. The firm has a market cap of $30.14 million, a price-to-earnings ratio of -0.18 and a beta of 1.28. Nano-X Imaging Ltd. has a one year low of $0.36 and a one year high of $4.71. The stock’s fifty day moving average price is $0.70 and its two-hundred day moving average price is $1.28.

Nano-X Imaging (NASDAQ:NNOX) last announced its quarterly earnings data on Wednesday, September 9th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.63). Nano-X Imaging had a negative net margin of 926.05% and a negative return on equity of 116.93%. The company had revenue of $4.16 million during the quarter, compared to analyst estimates of $5.38 million. On average, equities analysts anticipate that Nano-X Imaging Ltd. will post -1.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NNOX. Cantor Fitzgerald restated an “overweight” rating and set a $5.00 target price on shares of Nano-X Imaging in a research report on Monday, August 17th. Alliance Global Partners downgraded Nano-X Imaging from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $5.00 to $3.00 in a report on Tuesday, July 7th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Nano-X Imaging in a research note on Friday, October 2nd. One equities research 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $4.33.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in shares of Nano-X Imaging by 711.1% during the 1st quarter. Bank of America Corp DE now owns 484,328 shares of the company’s stock worth $1,099,000 after buying an additional 424,618 shares in the last quarter. Royal Bank of Canada boosted its stake in Nano-X Imaging by 27.8% in the first quarter. Royal Bank of Canada now owns 194,166 shares of the company’s stock valued at $440,000 after acquiring an additional 42,273 shares during the last quarter. Sei Investments Co. purchased a new position in Nano-X Imaging in the first quarter valued at about $98,000. Squarepoint Ops LLC bought a new position in shares of Nano-X Imaging during the 2nd quarter valued at approximately $66,000. Finally, PCM Encore LLC bought a new stake in shares of Nano-X Imaging in the second quarter valued at $53,000. Hedge funds and other institutional investors own 21.49% of the company’s stock.

About Nano-X Imaging

Nano-X Imaging Ltd. is a medical technology company developing digital X-ray and medical imaging solutions. Its primary product is the Nanox.ARC, a digitally driven X-ray system designed to provide imaging capabilities in hospitals, clinics and other healthcare settings. The company’s approach is intended to support more accessible and affordable diagnostic imaging, including in locations where conventional radiology infrastructure may be limited.

Nano-X also offers cloud-based services through its Nanox.CLOUD platform, which is designed to connect imaging devices, manage examinations and facilitate the transmission and review of medical images.