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

Shares of Nano-X Imaging Ltd. (NASDAQ:NNOX) have received a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, one has given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $4.00.

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

Insider Transactions at Nano-X Imaging

In related news, Director Dan S. Suesskind acquired 50,000 shares of the stock in a transaction on Monday, July 27th. The stock was bought at an average cost of $0.93 per share, with a total value of $46,500.00. Following the transaction, the director directly owned 50,000 shares in the company, valued at approximately $46,500. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Erez Meltzer acquired 36,000 shares of the stock in a transaction on Monday, July 27th. The stock was bought at an average cost of $0.93 per share, with a total value of $33,480.00. Following the completion of the transaction, the chief executive officer owned 36,000 shares in the company, valued at $33,480. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 7.74% of the company’s stock.

Institutional Trading of Nano-X Imaging

Large investors have recently modified their holdings of the company. Kestra Advisory Services LLC bought a new position in Nano-X Imaging in the first quarter worth approximately $26,000. Independent Financial Group LLC purchased a new position in Nano-X Imaging during the 1st quarter worth $26,000. Interchange Capital Partners LLC bought a new stake in Nano-X Imaging during the 4th quarter valued at $28,000. Aristides Capital LLC bought a new stake in Nano-X Imaging during the 4th quarter valued at $30,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Nano-X Imaging in the 1st quarter worth $35,000. Hedge funds and other institutional investors own 21.49% of the company’s stock.

Nano-X Imaging Price Performance

Shares of NASDAQ:NNOX opened at $0.98 on Friday. The firm has a market capitalization of $68.20 million, a PE ratio of -0.62 and a beta of 1.24. The business has a 50 day simple moving average of $1.41 and a two-hundred day simple moving average of $2.04. Nano-X Imaging has a 1 year low of $0.73 and a 1 year high of $4.95.

Nano-X Imaging (NASDAQ:NNOX) last issued its quarterly earnings results on Thursday, June 25th. The company reported ($0.16) earnings per share for the quarter. Nano-X Imaging had a negative return on equity of 70.96% and a negative net margin of 716.44%.The business had revenue of $4.31 million during the quarter. Equities research analysts expect that Nano-X Imaging will post -0.6 EPS 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.