Nano-X Imaging’s (NNOX) “Overweight” Rating Reiterated at Cantor Fitzgerald

Nano-X Imaging (NASDAQ:NNOX)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They currently have a $14.00 price objective on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 131.79% from the stock’s current price.

Nano-X Imaging Stock Performance

Shares of NNOX stock traded down $0.05 during mid-day trading on Monday, reaching $6.04. The company’s stock had a trading volume of 290,689 shares, compared to its average volume of 1,968,761. The firm’s 50-day moving average is $7.13 and its two-hundred day moving average is $8.32. Nano-X Imaging has a 1-year low of $4.89 and a 1-year high of $14.28. The company has a market cap of $348.99 million, a P/E ratio of -5.65 and a beta of 2.01.

Nano-X Imaging (NASDAQ:NNOX) last released its quarterly earnings data on Tuesday, August 20th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.01). Nano-X Imaging had a negative net margin of 567.41% and a negative return on equity of 30.34%. The company had revenue of $2.70 million for the quarter. During the same quarter last year, the firm earned ($0.31) earnings per share. Sell-side analysts anticipate that Nano-X Imaging will post -0.88 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Olympiad Research LP increased its position in 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 buying an additional 4,375 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Nano-X Imaging by 13.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,716 shares of the company’s stock valued at $135,000 after buying an additional 1,612 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Nano-X Imaging by 14.8% in the second quarter. The Manufacturers Life Insurance Company now owns 20,210 shares of the company’s stock valued at $148,000 after acquiring an additional 2,600 shares in the last quarter. State Board of Administration of Florida Retirement System lifted 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 acquiring an additional 2,380 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in Nano-X Imaging by 14.1% in the 2nd 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. Institutional investors own 21.49% of the company’s stock.

Nano-X Imaging Company Profile

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.