D. Boral Capital Issues Pessimistic Forecast for Nano-X Imaging (NASDAQ:NNOX) Stock Price

Key Points

• D. Boral Capital has lowered its price target for Nano-X Imaging (NASDAQ:NNOX) from $10.00 to $8.00, while maintaining a "buy" rating.
• Other firms, including Alliance Global Partners and LADENBURG THALM/SH SH, have upgraded Nano-X Imaging to a "strong-buy" rating recently.
• The company reported a quarterly loss of ($0.23) EPS, missing analysts' expectations, and has a current market capitalization of $260.88 million.

Nano-X Imaging (NASDAQ:NNOX - Free Report) had its price objective lowered by D. Boral Capital from $10.00 to $8.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on NNOX. Alliance Global Partners raised shares of Nano-X Imaging to a "strong-buy" rating in a report on Monday, August 11th. LADENBURG THALM/SH SH raised shares of Nano-X Imaging to a "strong-buy" rating in a report on Monday, July 14th.

Nano-X Imaging Stock Performance

Shares of NASDAQ NNOX traded down $0.08 during mid-day trading on Wednesday, reaching $4.42. The company's stock had a trading volume of 1,004,630 shares, compared to its average volume of 1,350,264. The stock has a 50-day moving average of $5.05 and a two-hundred day moving average of $5.41. The stock has a market capitalization of $255.39 million, a P/E ratio of -4.91 and a beta of 1.95. Nano-X Imaging has a 1-year low of $3.75 and a 1-year high of $11.00.

Nano-X Imaging (NASDAQ:NNOX - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.23) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.08). The business had revenue of $3.04 million during the quarter, compared to analyst estimates of $3.20 million. Nano-X Imaging had a negative net margin of 468.29% and a negative return on equity of 32.09%. Analysts predict that Nano-X Imaging will post -0.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Nano-X Imaging

A number of hedge funds have recently modified their holdings of the company. 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 purchasing an additional 2,582 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Nano-X Imaging by 8.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,182 shares of the company's stock valued at $182,000 after purchasing an additional 2,724 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Nano-X Imaging by 20.5% in the second quarter. The Manufacturers Life Insurance Company now owns 22,433 shares of the company's stock valued at $116,000 after purchasing an additional 3,818 shares during the period. OneDigital Investment Advisors LLC boosted its stake in Nano-X Imaging by 16.5% during the first quarter. OneDigital Investment Advisors LLC now owns 32,271 shares of the company's stock worth $161,000 after buying an additional 4,570 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Nano-X Imaging by 26.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 21,990 shares of the company's stock worth $159,000 after buying an additional 4,658 shares during the period. 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.