Nano-X Imaging (NASDAQ:NNOX) Director Purchases $45,600.00 in Stock

Key Points

• Director Dan Suesskind purchased 60,000 Nano-X Imaging shares at an average price of $0.76, investing $45,600 and increasing his holdings by 120% to 110,000 shares.
• NNOX shares opened at $0.70 after falling 3.3%; the company reported a quarterly loss of $0.79 per share, significantly missing the $0.16 consensus estimate, while revenue also came in below expectations.
• Analyst sentiment remains mixed, but MarketBeat reports a “Moderate Buy” consensus rating and an average price target of $4.33, well above the stock’s recent trading level.

Nano-X Imaging Ltd. (NASDAQ:NNOX - Get Free Report) Director Dan Suesskind purchased 60,000 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were acquired at an average cost of $0.76 per share, for a total transaction of $45,600.00. Following the completion of the transaction, the director owned 110,000 shares of the company's stock, valued at $83,600. This trade represents a 120.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Nano-X Imaging Stock Down 3.3%

• Nano-X Imaging NASDAQ: NNOX Stock: Reimagining the X-Ray

NASDAQ NNOX opened at $0.70 on Tuesday. The company has a market capitalization of $55.01 million, a P/E ratio of -0.33 and a beta of 1.26. Nano-X Imaging Ltd. has a 12-month low of $0.67 and a 12-month high of $4.71. The firm has a 50-day moving average price of $0.95 and a two-hundred day moving average price of $1.65.

Nano-X Imaging (NASDAQ:NNOX - Get Free Report) last announced its 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). Nano-X Imaging had a negative return on equity of 116.93% and a negative net margin of 926.05%.The business had revenue of $4.16 million for the quarter, compared to analyst estimates of $5.38 million. Equities analysts expect that Nano-X Imaging Ltd. will post -0.6 EPS for the current year.

Analysts Set New Price Targets

NNOX has been the topic of a number of recent research reports. Zacks Research upgraded Nano-X Imaging from a "strong sell" rating to a "hold" rating in a research note on Monday, June 22nd. Cantor Fitzgerald reissued an "overweight" rating and set a $5.00 target price on shares of Nano-X Imaging in a report on Monday, August 17th. Alliance Global Partners cut Nano-X Imaging from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $5.00 to $3.00 in a research report on Tuesday, July 7th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Nano-X Imaging in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Nano-X Imaging presently has a consensus rating of "Moderate Buy" and a consensus target price of $4.33.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP acquired a new position in shares of Nano-X Imaging during the 2nd quarter worth $42,000. Squarepoint Ops LLC acquired a new stake in Nano-X Imaging in the second quarter valued at about $66,000. PCM Encore LLC bought a new position in Nano-X Imaging in the second quarter valued at about $53,000. Bank of America Corp DE raised its stake in Nano-X Imaging by 711.1% during the first quarter. Bank of America Corp DE now owns 484,328 shares of the company's stock worth $1,099,000 after acquiring an additional 424,618 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in Nano-X Imaging by 27.8% during the first quarter. Royal Bank of Canada now owns 194,166 shares of the company's stock worth $440,000 after acquiring an additional 42,273 shares in the last quarter. 21.49% of the stock is currently owned by institutional investors and hedge funds.

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.

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