Nano-X Imaging's (NNOX) "Overweight" Rating Reaffirmed at Cantor Fitzgerald

Nano-X Imaging (NASDAQ:NNOX - Get Free Report)'s stock had its "overweight" rating reiterated by equities research analysts at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They currently have a $14.00 price objective on the stock. Cantor Fitzgerald's target price suggests a potential upside of 133.33% from the company's previous close.

Nano-X Imaging Price Performance

Shares of NASDAQ:NNOX traded down $0.09 during trading hours on Monday, hitting $6.00. 527,303 shares of the company's stock traded hands, compared to its average volume of 1,970,168. The business has a fifty day moving average price of $7.07 and a 200-day moving average price of $8.27. The firm has a market capitalization of $346.67 million, a P/E ratio of -5.61 and a beta of 2.01. Nano-X Imaging has a 1 year low of $4.89 and a 1 year high of $14.28.

Nano-X Imaging (NASDAQ:NNOX - Get Free Report) last issued its earnings results on Tuesday, August 20th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.01). Nano-X Imaging had a negative return on equity of 30.34% and a negative net margin of 567.41%. The business had revenue of $2.70 million for the quarter. During the same quarter last year, the firm posted ($0.31) EPS. As a group, equities analysts predict that Nano-X Imaging will post -0.88 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew 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 acquiring an additional 2,600 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Nano-X Imaging by 3.9% in the second quarter. Rhumbline Advisers now owns 75,920 shares of the company's stock worth $557,000 after acquiring an additional 2,818 shares during the period. Van ECK Associates Corp raised 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 worth $164,000 after purchasing an additional 2,755 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Nano-X Imaging by 7.6% during the second quarter. Bank of New York Mellon Corp now owns 185,167 shares of the company's stock worth $1,359,000 after purchasing an additional 13,085 shares during the last quarter. Finally, Tempus Wealth Planning LLC boosted its holdings in Nano-X Imaging by 11.1% in the second quarter. Tempus Wealth Planning LLC now owns 116,907 shares of the company's stock valued at $858,000 after purchasing an additional 11,692 shares during the last quarter. Hedge funds and other 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.