Nano-X Imaging (NASDAQ:NNOX) Receives “Overweight” Rating from Cantor Fitzgerald

Nano-X Imaging (NASDAQ:NNOX)‘s stock had its “overweight” rating reaffirmed by stock analysts at Cantor Fitzgerald in a report released on Monday, Benzinga reports. They presently have a $14.00 price objective on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 131.79% from the company’s previous close.

Nano-X Imaging Stock Performance

Shares of NNOX traded down $0.05 during mid-day trading on Monday, reaching $6.04. 290,689 shares of the company were exchanged, compared to its average volume of 1,968,761. The stock has a market capitalization of $348.99 million, a PE ratio of -5.65 and a beta of 2.01. The business has a 50 day simple moving average of $7.13 and a two-hundred day simple moving average of $8.32. Nano-X Imaging has a 52 week low of $4.89 and a 52 week high of $14.28.

Nano-X Imaging (NASDAQ:NNOX) last posted its quarterly earnings results 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). The firm had revenue of $2.70 million for the quarter. Nano-X Imaging had a negative return on equity of 30.34% and a negative net margin of 567.41%. During the same quarter in the prior year, the business posted ($0.31) earnings per share. On average, analysts predict that Nano-X Imaging will post -0.88 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Olympiad Research LP increased its holdings in Nano-X Imaging by 35.1% in the 4th quarter. Olympiad Research LP now owns 16,832 shares of the company’s stock worth $107,000 after acquiring an additional 4,375 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of 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 during the period. The Manufacturers Life Insurance Company lifted its holdings in Nano-X Imaging by 14.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,210 shares of the company’s stock worth $148,000 after purchasing an additional 2,600 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Nano-X Imaging by 17.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 16,000 shares of the company’s stock valued at $156,000 after buying an additional 2,380 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Nano-X Imaging by 14.1% in the second quarter. Van ECK Associates Corp now owns 22,293 shares of the company’s stock worth $164,000 after buying an additional 2,755 shares in the last quarter. 21.49% of the stock is currently owned by institutional investors and hedge funds.

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.