Cantor Fitzgerald Lowers Nano-X Imaging (NASDAQ:NNOX) Price Target to $9.00

Nano-X Imaging (NASDAQ:NNOX - Free Report) had its price target reduced by Cantor Fitzgerald from $12.00 to $9.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the stock. Cantor Fitzgerald also issued estimates for Nano-X Imaging's FY2025 earnings at ($0.71) EPS.

Separately, D. Boral Capital reiterated a "buy" rating and set a $15.00 price target on shares of Nano-X Imaging in a research note on Monday, March 31st.

Nano-X Imaging Price Performance

Nano-X Imaging stock traded down $0.27 during trading on Tuesday, reaching $4.40. 1,866,558 shares of the company were exchanged, compared to its average volume of 1,731,548. The stock's 50 day simple moving average is $6.24 and its two-hundred day simple moving average is $6.59. The company has a market capitalization of $254.23 million, a P/E ratio of -5.18 and a beta of 2.03. Nano-X Imaging has a 52-week low of $4.16 and a 52-week high of $11.35.

Nano-X Imaging (NASDAQ:NNOX - Get Free Report) last issued its quarterly earnings data on Monday, March 31st. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.08). The business had revenue of $3.00 million during the quarter, compared to analysts' expectations of $3.80 million. Nano-X Imaging had a negative return on equity of 27.63% and a negative net margin of 465.38%. As a group, equities analysts forecast that Nano-X Imaging will post -0.92 earnings per share for the current year.

Institutional Investors Weigh In On Nano-X Imaging

Several hedge funds and other institutional investors have recently made changes to their positions in NNOX. Barclays PLC boosted its position in shares of Nano-X Imaging by 258.5% in the 3rd quarter. Barclays PLC now owns 86,181 shares of the company's stock valued at $523,000 after purchasing an additional 62,140 shares during the period. ARK Investment Management LLC boosted its holdings in Nano-X Imaging by 19.0% during the fourth quarter. ARK Investment Management LLC now owns 300,757 shares of the company's stock worth $2,165,000 after buying an additional 48,124 shares in the last quarter. State Street Corp grew its holdings in Nano-X Imaging by 2.1% in the third quarter. State Street Corp now owns 983,305 shares of the company's stock valued at $5,978,000 after purchasing an additional 20,279 shares during the last quarter. Verition Fund Management LLC acquired a new stake in Nano-X Imaging in the 3rd quarter valued at about $88,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Nano-X Imaging by 16.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 41,364 shares of the company's stock worth $251,000 after purchasing an additional 5,930 shares in the last quarter. Institutional investors and hedge funds own 21.49% of the company's stock.

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.