Key Points
- Director Dan Suesskind purchased 60,000 Nano-X Imaging shares at $0.76 each, investing $45,600 and increasing his holdings by 120% to 110,000 shares.
- NNOX shares opened at $0.69, near their 52-week low, after the company reported a significant quarterly loss of $0.79 per share and revenue below analyst expectations.
- Analyst views remain mixed, but the stock has a consensus “Moderate Buy” rating and an average price target of $4.33; institutional investors own 21.49% of the company.
Nano-X Imaging Ltd. (NASDAQ:NNOX - Get Free Report) Director Dan Suesskind acquired 60,000 shares of the company's stock in a transaction dated Monday, September 14th. The shares were bought at an average cost of $0.76 per share, with a total value of $45,600.00. Following the purchase, the director owned 110,000 shares of the company's stock, valued at approximately $83,600. This trade represents a 120.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Nano-X Imaging Stock Down 1.4%
Shares of NASDAQ NNOX opened at $0.69 on Wednesday. The firm's fifty day moving average is $0.94 and its 200 day moving average is $1.63. Nano-X Imaging Ltd. has a 52 week low of $0.67 and a 52 week high of $4.71. The company has a market cap of $54.23 million, a price-to-earnings ratio of -0.32 and a beta of 1.26.
Nano-X Imaging (NASDAQ:NNOX - Get Free Report) last announced its quarterly earnings results on Wednesday, September 9th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.63). The firm had revenue of $4.16 million during the quarter, compared to the consensus estimate of $5.38 million. Nano-X Imaging had a negative return on equity of 116.93% and a negative net margin of 926.05%. Equities research analysts anticipate that Nano-X Imaging Ltd. will post -0.6 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in NNOX. UBS Group AG lifted its position in shares of Nano-X Imaging by 40.8% in the 4th quarter. UBS Group AG now owns 1,530,104 shares of the company's stock worth $4,284,000 after purchasing an additional 443,459 shares during the period. Bank of America Corp DE boosted its stake in shares of Nano-X Imaging by 711.1% during the 1st quarter. Bank of America Corp DE now owns 484,328 shares of the company's stock valued at $1,099,000 after purchasing an additional 424,618 shares in the last quarter. Griffin Asset Management Inc. boosted its stake in shares of Nano-X Imaging by 47.4% during the 4th quarter. Griffin Asset Management Inc. now owns 170,309 shares of the company's stock valued at $477,000 after purchasing an additional 54,790 shares in the last quarter. Royal Bank of Canada increased its position in shares of Nano-X Imaging by 27.8% during the first quarter. Royal Bank of Canada now owns 194,166 shares of the company's stock valued at $440,000 after buying an additional 42,273 shares during the period. Finally, Sei Investments Co. bought a new position in Nano-X Imaging in the first quarter worth about $98,000. 21.49% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on NNOX. Zacks Research raised Nano-X Imaging from a "strong sell" rating to a "hold" rating in a research note on Monday, June 22nd. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Nano-X Imaging in a research report on Wednesday, July 8th. Alliance Global Partners lowered Nano-X Imaging from a "buy" rating to a "neutral" rating and lowered their price target for the company from $5.00 to $3.00 in a research report on Tuesday, July 7th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $5.00 price objective on shares of Nano-X Imaging in a report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $4.33.
Get Our Latest Stock Analysis on Nano-X Imaging
Nano-X Imaging Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
