Nano-X Imaging (NASDAQ:NNOX) Shares Up 8% – Here’s Why

Nano-X Imaging Ltd. (NASDAQ:NNOX)’s share price was up 8% during trading on Wednesday . The company traded as high as $9.16 and last traded at $9.05. Approximately 1,851,211 shares were traded during trading, a decline of 62% from the average daily volume of 4,872,062 shares. The stock had previously closed at $8.38.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NNOX. Cantor Fitzgerald raised their target price on shares of Nano-X Imaging from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. D. Boral Capital began coverage on Nano-X Imaging in a research note on Monday, January 6th. They set a “buy” rating and a $23.00 price target on the stock.

Nano-X Imaging Stock Up 7.3 %

The firm has a market cap of $519.32 million, a PE ratio of -10.57 and a beta of 1.97. The business has a 50-day moving average price of $7.26 and a two-hundred day moving average price of $6.92.

Nano-X Imaging (NASDAQ:NNOX) last announced its quarterly earnings data on Thursday, November 21st. The company reported ($0.23) EPS for the quarter. Nano-X Imaging had a negative return on equity of 27.63% and a negative net margin of 465.38%. During the same period last year, the company earned ($0.37) EPS. On average, equities research analysts predict that Nano-X Imaging Ltd. will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Nano-X Imaging

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers raised its position in shares of Nano-X Imaging by 3.9% during the 2nd quarter. Rhumbline Advisers now owns 75,920 shares of the company’s stock worth $557,000 after acquiring an additional 2,818 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Nano-X Imaging by 14.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,210 shares of the company’s stock valued at $148,000 after buying an additional 2,600 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Nano-X Imaging in the 3rd quarter valued at $124,000. Creative Planning purchased a new position in shares of Nano-X Imaging in the 3rd quarter valued at $107,000. Finally, Tempus Wealth Planning LLC raised its stake in Nano-X Imaging by 3.6% during the 3rd quarter. Tempus Wealth Planning LLC now owns 121,137 shares of the company’s stock worth $737,000 after acquiring an additional 4,230 shares in the last quarter. 21.49% of the stock is currently owned by institutional investors and hedge funds.

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.