Erez Meltzer Purchases 36,000 Shares of Nano-X Imaging (NASDAQ:NNOX) Stock

Nano-X Imaging Ltd. (NASDAQ:NNOX) CEO Erez Meltzer acquired 36,000 shares of Nano-X Imaging stock in a transaction dated Monday, July 27th. The shares were bought at an average cost of $0.93 per share, for a total transaction of $33,480.00. Following the completion of the purchase, the chief executive officer directly owned 36,000 shares of the company’s stock, valued at approximately $33,480. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Nano-X Imaging Stock Down 0.9%

Shares of NNOX traded down $0.01 during trading hours on Tuesday, hitting $0.88. The company had a trading volume of 767,057 shares, compared to its average volume of 1,632,344. The firm has a market cap of $61.07 million, a P/E ratio of -0.56 and a beta of 1.24. The stock’s 50 day moving average price is $1.48 and its 200 day moving average price is $2.09. Nano-X Imaging Ltd. has a 52-week low of $0.73 and a 52-week high of $5.15.

Nano-X Imaging (NASDAQ:NNOX) last issued its earnings results on Thursday, June 25th. The company reported ($0.16) earnings per share for the quarter. Nano-X Imaging had a negative net margin of 716.44% and a negative return on equity of 70.96%. The company had revenue of $4.31 million for the quarter. On average, research analysts expect that Nano-X Imaging Ltd. will post -0.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Nano-X Imaging

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE increased its stake in shares of Nano-X Imaging by 711.1% during the first quarter. Bank of America Corp DE now owns 484,328 shares of the company’s stock valued at $1,099,000 after buying an additional 424,618 shares during the period. Royal Bank of Canada increased its position in Nano-X Imaging by 27.8% during the 1st quarter. Royal Bank of Canada now owns 194,166 shares of the company’s stock valued at $440,000 after purchasing an additional 42,273 shares during the period. Sei Investments Co. bought a new position in Nano-X Imaging in the 1st quarter worth $98,000. Independent Financial Group LLC bought a new position in Nano-X Imaging in the 1st quarter worth $26,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Nano-X Imaging in the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 21.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NNOX shares. Zacks Research raised Nano-X Imaging from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Alliance Global Partners downgraded shares of Nano-X Imaging from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $5.00 to $3.00 in a research note on Tuesday, July 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nano-X Imaging in a report on Wednesday, July 8th. Finally, D. Boral Capital reissued a “buy” rating and set a $5.00 price target on shares of Nano-X Imaging in a research report on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $4.00.

Nano-X Imaging Company Profile

Nano-X Imaging Ltd. is a medical technology company developing and commercializing a digital X-ray imaging platform designed to lower the cost and increase the accessibility of diagnostic imaging. Its flagship product, the Nanox.ARC, leverages a proprietary micro-electromechanical system (MEMS) based digital X-ray source and advanced image processing software to provide 2D and 3D imaging capabilities on a compact footprint. The system aims to streamline radiology workflows and facilitate point-of-care diagnostics in hospitals, clinics and outpatient settings.

The Nanox.ARC platform integrates a novel cold cathode X-ray source, which enables multiple emission points without the need for rotating anode tubes.