Cantor Fitzgerald Issues Pessimistic Forecast for Nano-X Imaging (NASDAQ:NNOX) Stock Price

Nano-X Imaging (NASDAQ:NNOX) had its price objective cut by research analysts at Cantor Fitzgerald from $14.00 to $11.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 82.12% from the stock’s previous close.

Nano-X Imaging Stock Down 6.8 %

NASDAQ:NNOX traded down $0.44 during midday trading on Tuesday, hitting $6.04. The stock had a trading volume of 641,292 shares, compared to its average volume of 1,778,284. Nano-X Imaging has a one year low of $5.26 and a one year high of $14.28. The stock has a 50-day moving average of $6.05 and a 200 day moving average of $7.08. The company has a market capitalization of $348.99 million, a price-to-earnings ratio of -7.11 and a beta of 2.01.

Institutional Investors Weigh In On Nano-X Imaging

Hedge funds have recently made changes to their positions in the stock. Griffin Asset Management Inc. lifted its position in shares of Nano-X Imaging by 0.7% during the second quarter. Griffin Asset Management Inc. now owns 203,911 shares of the company’s stock valued at $1,497,000 after buying an additional 1,500 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Nano-X Imaging by 13.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,716 shares of the company’s stock valued at $135,000 after purchasing an additional 1,612 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Nano-X Imaging by 17.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,000 shares of the company’s stock worth $156,000 after buying an additional 2,380 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Nano-X Imaging by 14.8% during the second quarter. The Manufacturers Life Insurance Company now owns 20,210 shares of the company’s stock worth $148,000 after buying an additional 2,600 shares during the period. Finally, Van ECK Associates Corp grew its holdings in shares of Nano-X Imaging by 14.1% during the second quarter. Van ECK Associates Corp now owns 22,293 shares of the company’s stock valued at $164,000 after buying an additional 2,755 shares during the last quarter. 21.49% of the stock is currently owned by hedge funds and other 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.