Nuveen LLC Invests $657,000 in Nano-X Imaging Ltd. $NNOX

Key Points

• Nuveen LLC has acquired a new stake in Nano-X Imaging Ltd., purchasing 131,459 shares valued at approximately $657,000, which represents about 0.23% of the company's stock.
• Several large investors, including Wells Fargo and Barclays, have increased their stakes in Nano-X Imaging, reflecting growing confidence in the company.
• Analysts have issued a consensus rating of "Strong Buy" for Nano-X Imaging, with an average price target of $8.50, despite the stock currently trading around $3.75.

Nuveen LLC purchased a new position in shares of Nano-X Imaging Ltd. (NASDAQ:NNOX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 131,459 shares of the company's stock, valued at approximately $657,000. Nuveen LLC owned about 0.23% of Nano-X Imaging at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NNOX. OneDigital Investment Advisors LLC increased its stake in Nano-X Imaging by 16.5% during the 1st quarter. OneDigital Investment Advisors LLC now owns 32,271 shares of the company's stock worth $161,000 after acquiring an additional 4,570 shares during the period. Raymond James Financial Inc. bought a new stake in Nano-X Imaging during the 4th quarter worth $251,000. Rhumbline Advisers lifted its holdings in Nano-X Imaging by 6.6% during the 1st quarter. Rhumbline Advisers now owns 76,728 shares of the company's stock worth $383,000 after buying an additional 4,756 shares during the period. Stifel Financial Corp lifted its holdings in Nano-X Imaging by 98.9% during the 4th quarter. Stifel Financial Corp now owns 23,318 shares of the company's stock worth $168,000 after buying an additional 11,596 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of Nano-X Imaging by 132.2% in the 4th quarter. Cetera Investment Advisers now owns 32,441 shares of the company's stock valued at $234,000 after purchasing an additional 18,469 shares during the period. 21.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NNOX shares. Alliance Global Partners raised Nano-X Imaging to a "strong-buy" rating in a research report on Monday, August 11th. D. Boral Capital decreased their price objective on Nano-X Imaging from $10.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday, August 13th. Finally, LADENBURG THALM/SH SH raised Nano-X Imaging to a "strong-buy" rating in a report on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat, the company currently has an average rating of "Strong Buy" and a consensus target price of $8.50.

Nano-X Imaging Price Performance

NASDAQ NNOX traded down $0.02 during trading hours on Tuesday, reaching $4.00. 319,354 shares of the stock traded hands, compared to its average volume of 1,723,782. The company has a market cap of $230.89 million, a price-to-earnings ratio of -4.45 and a beta of 1.94. The stock has a 50 day simple moving average of $4.63 and a two-hundred day simple moving average of $5.06. Nano-X Imaging Ltd. has a 1 year low of $3.63 and a 1 year high of $11.00.

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

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.