Nano-X Imaging (NASDAQ:NNOX) Shares Gap Up to $8.91

Nano-X Imaging Ltd. (NASDAQ:NNOX) shares gapped up prior to trading on Monday . The stock had previously closed at $8.91, but opened at $9.20. Nano-X Imaging shares last traded at $8.79, with a volume of 857,882 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald reissued an “overweight” rating and issued a $18.00 target price on shares of Nano-X Imaging in a research note on Wednesday, May 29th.

Nano-X Imaging Price Performance

The stock has a 50 day moving average price of $8.18 and a 200-day moving average price of $8.40. The stock has a market capitalization of $492.29 million, a P/E ratio of -7.96 and a beta of 2.04.

Nano-X Imaging (NASDAQ:NNOX) last announced its quarterly earnings data on Tuesday, May 28th. The company reported ($0.21) earnings per share (EPS) for the quarter. Nano-X Imaging had a negative net margin of 611.89% and a negative return on equity of 31.57%. The company had revenue of $2.55 million for the quarter. During the same quarter in the prior year, the business earned ($0.21) earnings per share. Research analysts predict that Nano-X Imaging Ltd. will post -0.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC boosted its holdings in shares of Nano-X Imaging by 22.6% during the fourth quarter. SG Americas Securities LLC now owns 27,794 shares of the company’s stock worth $177,000 after purchasing an additional 5,123 shares during the period. ARK Investment Management LLC boosted its holdings in shares of Nano-X Imaging by 107.3% during the fourth quarter. ARK Investment Management LLC now owns 309,095 shares of the company’s stock worth $1,969,000 after purchasing an additional 160,023 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Nano-X Imaging by 27.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,133 shares of the company’s stock worth $109,000 after purchasing an additional 3,639 shares during the period. Olympiad Research LP boosted its holdings in shares of Nano-X Imaging by 35.1% during the fourth quarter. Olympiad Research LP now owns 16,832 shares of the company’s stock worth $107,000 after purchasing an additional 4,375 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Nano-X Imaging by 471.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,425 shares of the company’s stock worth $54,000 after purchasing an additional 6,950 shares during the period. 21.49% of the stock is owned by institutional investors.

About Nano-X Imaging

Nano-X Imaging Ltd. develops a commercial-grade tomographic imaging device with a digital X-ray source. The company provides teleradiology services and develops artificial intelligence applications to be used in real-world medical imaging applications. Its X-ray source is based on a digital micro-electro-mechanical systems semiconductor cathode.