Nano-X Imaging (NASDAQ:NNOX) Announces Quarterly Earnings Results

Key Points

• Nano-X Imaging reported a quarterly loss of ($0.23) earnings per share, missing the consensus estimate of ($0.15) by ($0.08).
• The company's stock traded down to $4.46, with shares exchanging hands totaling over 2.2 million compared to its average volume.
• Several analysts have set new price targets, with D. Boral Capital reiterating a "buy" rating and a price target of $10.00 for Nano-X Imaging.

Nano-X Imaging (NASDAQ:NNOX - Get Free Report) announced its earnings results on Tuesday. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.08), Zacks reports. Nano-X Imaging had a negative net margin of 472.19% and a negative return on equity of 30.92%.

Nano-X Imaging Stock Performance

Shares of Nano-X Imaging stock traded down $0.25 during trading on Tuesday, hitting $4.46. 2,299,119 shares of the company's stock were exchanged, compared to its average volume of 1,783,242. The business has a 50-day simple moving average of $5.11 and a 200-day simple moving average of $5.48. Nano-X Imaging has a 52-week low of $3.75 and a 52-week high of $11.00. The stock has a market capitalization of $257.70 million, a price-to-earnings ratio of -4.96 and a beta of 1.95.

Analysts Set New Price Targets

NNOX has been the subject of a number of research analyst reports. D. Boral Capital reaffirmed a "buy" rating and issued a $10.00 price target on shares of Nano-X Imaging in a report on Friday, June 6th. Alliance Global Partners reaffirmed a "buy" rating on shares of Nano-X Imaging in a report on Thursday, May 22nd. Finally, LADENBURG THALM/SH SH raised shares of Nano-X Imaging to a "strong-buy" rating in a report on Monday, July 14th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NNOX. AQR Capital Management LLC purchased a new position in shares of Nano-X Imaging during the first quarter worth $178,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Nano-X Imaging by 232.4% during 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 worth $10,793,000 after purchasing an additional 1,510,806 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Nano-X Imaging by 17.5% during the second quarter. Geode Capital Management LLC now owns 810,322 shares of the company's stock worth $4,189,000 after purchasing an additional 120,460 shares during the last quarter. Cetera Investment Advisers increased its holdings in Nano-X Imaging by 82.0% in the second quarter. Cetera Investment Advisers now owns 48,056 shares of the company's stock valued at $248,000 after buying an additional 21,657 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Nano-X Imaging by 61.5% in the second quarter. JPMorgan Chase & Co. now owns 65,783 shares of the company's stock valued at $340,000 after buying an additional 25,048 shares in the last quarter. Hedge funds and other institutional investors own 21.49% of the company's stock.

Nano-X Imaging Company 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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