Griffin Asset Management Inc. Has $605,000 Position in Nano-X Imaging Ltd. $NNOX

Key Points

• Griffin Asset Management Inc. reduced its stake in Nano-X Imaging Ltd. by 36.1%, holding 117,074 shares valued at $605,000 by the end of Q2.
• UBS AM significantly increased its holdings in Nano-X Imaging by 232.4%, acquiring an additional 1,510,806 shares during the first quarter.
• The stock of Nano-X Imaging is trading at $3.90 with a twelve-month low of $3.60 and a high of $11.00, highlighting significant price volatility.

Griffin Asset Management Inc. reduced its stake in Nano-X Imaging Ltd. (NASDAQ:NNOX - Free Report) by 36.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 117,074 shares of the company's stock after selling 66,005 shares during the period. Griffin Asset Management Inc. owned 0.20% of Nano-X Imaging worth $605,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of NNOX. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Nano-X Imaging by 232.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,160,806 shares of the company's stock valued at $10,793,000 after purchasing an additional 1,510,806 shares during the last quarter. Nuveen LLC acquired a new position in shares of Nano-X Imaging in the first quarter valued at $657,000. AQR Capital Management LLC acquired a new position in shares of Nano-X Imaging in the first quarter valued at $178,000. Virtu Financial LLC acquired a new position in shares of Nano-X Imaging in the first quarter valued at $139,000. Finally, Gainplan LLC acquired a new position in shares of Nano-X Imaging in the second quarter valued at $59,000. 21.49% of the stock is currently owned by institutional investors and hedge funds.

Nano-X Imaging Stock Down 4.9%

NNOX opened at $3.90 on Monday. Nano-X Imaging Ltd. has a twelve month low of $3.60 and a twelve month high of $11.00. The company has a 50-day simple moving average of $4.06 and a 200 day simple moving average of $4.73. The stock has a market capitalization of $225.34 million, a price-to-earnings ratio of -4.33 and a beta of 1.89.

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

Wall Street Analyst Weigh In

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

Nano-X Imaging 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.

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