Nano-X Imaging (NNOX) Expected to Post Earnings on Tuesday

Nano-X Imaging (NASDAQ:NNOX) is anticipated to announce its results before the market opens on Tuesday, August 11th. Analysts expect the company to announce earnings of ($0.1633) per share and revenue of $5.3850 million for the quarter.

Nano-X Imaging (NASDAQ:NNOX) last released its quarterly earnings data on Thursday, June 25th. The company reported ($0.16) earnings per share for the quarter. The business had revenue of $4.31 million for the quarter. Nano-X Imaging had a negative return on equity of 70.96% and a negative net margin of 716.44%. On average, analysts expect Nano-X Imaging to post $-1 EPS for the current fiscal year and $-0 EPS for the next fiscal year.

Nano-X Imaging Stock Down 0.5%

NNOX stock traded down $0.01 during mid-day trading on Tuesday, reaching $1.09. The company had a trading volume of 388,845 shares, compared to its average volume of 1,602,809. The stock’s 50-day simple moving average is $1.40 and its two-hundred day simple moving average is $2.02. The stock has a market capitalization of $76.21 million, a P/E ratio of -0.69 and a beta of 1.27. Nano-X Imaging has a one year low of $0.73 and a one year high of $4.95.

Analysts Set New Price Targets

NNOX has been the subject of several analyst reports. Zacks Research upgraded Nano-X Imaging from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. D. Boral Capital reaffirmed a “buy” rating and set a $5.00 target price on shares of Nano-X Imaging in a research note on Monday, April 20th. Alliance Global Partners lowered Nano-X Imaging from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $5.00 to $3.00 in a research report on Tuesday, July 7th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Nano-X Imaging in a research note on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $4.00.

Insider Activity at Nano-X Imaging

In other news, Director Dan S. Suesskind purchased 50,000 shares of the 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 $46,500.00. Following the transaction, the director owned 50,000 shares in the company, valued at $46,500. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Erez Meltzer bought 36,000 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were purchased at an average cost of $0.93 per share, with a total value of $33,480.00. Following the purchase, the chief executive officer directly owned 36,000 shares of the company’s stock, valued at approximately $33,480. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Hedge Funds Weigh In On Nano-X Imaging

Hedge funds have recently made changes to their positions in the business. Aristides Capital LLC bought a new stake in Nano-X Imaging during the fourth quarter worth approximately $30,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Nano-X Imaging during the third quarter worth $40,000. Russell Investments Group Ltd. lifted its holdings in shares of Nano-X Imaging by 62.1% during the third quarter. Russell Investments Group Ltd. now owns 13,787 shares of the company’s stock valued at $51,000 after purchasing an additional 5,283 shares during the last quarter. PharVision Advisers LLC acquired a new position in shares of Nano-X Imaging in the 3rd quarter valued at $56,000. Finally, Mariner LLC increased its stake in Nano-X Imaging by 70.5% in the 4th quarter. Mariner LLC now owns 20,825 shares of the company’s stock worth $58,000 after purchasing an additional 8,614 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. 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.