ARK Investment Management LLC Buys 85,316 Shares of Nano-X Imaging Ltd. $NNOX

Key Points

• ARK Investment Management LLC increased its stake in Nano-X Imaging Ltd. by 37.1%, owning a total of 315,093 shares worth approximately $1.63 million after acquiring 85,316 new shares.
• Nano-X Imaging's stock price is currently at $4.01, with a twelve-month performance ranging from a low of $3.60 to a high of $11.00.
• Recent analyst ratings indicate a mix of sentiment, with two firms upgrading the stock to a "strong-buy" rating, while a "sell" rating was also issued by Weiss Ratings.

ARK Investment Management LLC grew its stake in shares of Nano-X Imaging Ltd. (NASDAQ:NNOX - Free Report) by 37.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 315,093 shares of the company's stock after purchasing an additional 85,316 shares during the period. ARK Investment Management LLC owned about 0.55% of Nano-X Imaging worth $1,629,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Nano-X Imaging by 1,755.9% during the 1st quarter. GAMMA Investing LLC now owns 7,962 shares of the company's stock worth $40,000 after purchasing an additional 7,533 shares in the last quarter. Vident Advisory LLC bought a new position in shares of Nano-X Imaging in the first quarter valued at approximately $55,000. Gainplan LLC bought a new position in shares of Nano-X Imaging in the second quarter valued at approximately $59,000. PFG Advisors grew its holdings in shares of Nano-X Imaging by 25.3% in the first quarter. PFG Advisors now owns 12,782 shares of the company's stock valued at $64,000 after acquiring an additional 2,582 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Nano-X Imaging in the first quarter valued at approximately $139,000. 21.49% of the stock is owned by institutional investors.

Nano-X Imaging Stock Down 1.7%

NASDAQ NNOX opened at $4.01 on Thursday. The stock's 50-day simple moving average is $3.98 and its two-hundred day simple moving average is $4.69. Nano-X Imaging Ltd. has a twelve month low of $3.60 and a twelve month high of $11.00. The company has a market capitalization of $231.70 million, a price-to-earnings ratio of -4.46 and a beta of 1.89.

Nano-X Imaging (NASDAQ:NNOX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.08). Nano-X Imaging had a negative net margin of 468.29% and a negative return on equity of 32.09%. The company had revenue of $3.04 million for the quarter, compared to the consensus estimate of $3.20 million. On average, equities analysts expect that Nano-X Imaging Ltd. will post -0.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NNOX. Alliance Global Partners raised Nano-X Imaging to a "strong-buy" rating in a report on Monday, August 11th. LADENBURG THALM/SH SH upgraded Nano-X Imaging to a "strong-buy" rating in a research report on Monday, July 14th. Weiss Ratings restated a "sell (d-)" rating on shares of Nano-X Imaging in a research report on Wednesday, October 8th. Finally, D. Boral Capital reiterated a "buy" rating and issued a $8.00 price objective on shares of Nano-X Imaging in a research report on Friday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $8.50.

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.

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