Nano-X Imaging (NASDAQ:NNOX) Rating Increased to Strong-Buy at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Nano-X Imaging (NASDAQ:NNOX) to a strong-buy rating in a research note published on Wednesday morning,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. 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 Tuesday. LADENBURG THALM/SH SH upgraded Nano-X Imaging to a “strong-buy” rating in a research report on Thursday, November 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nano-X Imaging in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $7.00.

Nano-X Imaging Price Performance

Shares of NNOX stock traded down $0.11 during mid-day trading on Wednesday, hitting $2.55. The company had a trading volume of 520,285 shares, compared to its average volume of 1,077,317. The stock’s 50 day moving average price is $2.72 and its 200-day moving average price is $3.39. Nano-X Imaging has a 52-week low of $2.11 and a 52-week high of $6.39. The company has a market capitalization of $166.39 million, a P/E ratio of -1.93 and a beta of 1.38.

Institutional Investors Weigh In On Nano-X Imaging

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NNOX. Interchange Capital Partners LLC bought a new position in shares of Nano-X Imaging in the 4th quarter worth $28,000. Aristides Capital LLC purchased a new position in shares of Nano-X Imaging in the 4th quarter valued at approximately $30,000. CIBC Bancorp USA Inc. purchased a new position in shares of Nano-X Imaging in the third quarter worth $40,000. Russell Investments Group Ltd. raised its stake in Nano-X Imaging by 62.1% in the 3rd 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 purchased a new position in shares of Nano-X Imaging in the fourth quarter worth about $54,000. 21.49% of the stock is currently owned by hedge funds and other institutional investors.

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.