Nano-X Imaging (NASDAQ:NNOX) Stock: Insider Erez Meltzer Buys 25,000 Shares

Nano-X Imaging Ltd. (NASDAQ:NNOX) CEO Erez Meltzer acquired 25,000 shares of the company’s stock in a transaction that occurred on Monday, October 19th. The stock was acquired at an average price of $0.45 per share, with a total value of $11,250.00. Following the acquisition, the chief executive officer directly owned 90,443 shares of the company’s stock, valued at approximately $40,699.35. This represents a 38.20% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

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

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

Nano-X Imaging Stock Down 6.9%

Shares of NNOX stock opened at $0.38 on Thursday. The firm has a 50 day moving average of $0.71 and a two-hundred day moving average of $1.29. The stock has a market capitalization of $30.25 million, a PE ratio of -0.18 and a beta of 1.28. Nano-X Imaging Ltd. has a 52 week low of $0.36 and a 52 week high of $4.71.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $5.00 price target on shares of Nano-X Imaging in a report on Monday, August 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nano-X Imaging in a research note on Friday, October 2nd. Finally, Alliance Global Partners cut Nano-X Imaging from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $5.00 to $3.00 in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4.33.

Institutional Investors Weigh In On Nano-X Imaging

A number of large investors have recently modified their holdings of NNOX. Bank of America Corp DE raised its holdings in shares of Nano-X Imaging by 711.1% in the 1st quarter. Bank of America Corp DE now owns 484,328 shares of the company’s stock valued at $1,099,000 after purchasing an additional 424,618 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Nano-X Imaging by 27.8% during the 1st quarter. Royal Bank of Canada now owns 194,166 shares of the company’s stock worth $440,000 after purchasing an additional 42,273 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Nano-X Imaging during the second quarter worth $66,000. PCM Encore LLC acquired a new position in shares of Nano-X Imaging during the second quarter worth $53,000. Finally, Sei Investments Co. acquired a new position in shares of Nano-X Imaging during the first quarter worth $98,000. 21.49% of the stock is owned by hedge funds and other institutional investors.

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.