Nano-X Imaging (NASDAQ:NNOX) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Nano-X Imaging (NASDAQ:NNOX - Get Free Report) released its earnings results on Thursday. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.02, Zacks reports. The company had revenue of $3.00 million during the quarter, compared to the consensus estimate of $3.98 million. Nano-X Imaging had a negative return on equity of 27.63% and a negative net margin of 465.38%.

Nano-X Imaging Stock Down 0.3%

Nano-X Imaging stock traded down $0.02 during trading on Wednesday, reaching $5.17. The stock had a trading volume of 599,693 shares, compared to its average volume of 1,734,076. Nano-X Imaging has a 52-week low of $3.75 and a 52-week high of $11.00. The stock has a market cap of $298.43 million, a PE ratio of -6.08 and a beta of 2.03. The business has a 50 day moving average price of $5.08 and a 200 day moving average price of $6.33.

Institutional Investors Weigh In On Nano-X Imaging

An institutional investor recently bought a new position in Nano-X Imaging stock. AQR Capital Management LLC bought a new stake in Nano-X Imaging Ltd. (NASDAQ:NNOX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 35,555 shares of the company's stock, valued at approximately $178,000. AQR Capital Management LLC owned about 0.06% of Nano-X Imaging at the end of the most recent reporting period. 21.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on NNOX shares. D. Boral Capital decreased their price target on shares of Nano-X Imaging from $15.00 to $10.00 and set a "buy" rating for the company in a research report on Friday, May 23rd. Alliance Global Partners reiterated a "buy" rating on shares of Nano-X Imaging in a research note on Thursday, May 22nd. Finally, Cantor Fitzgerald decreased their target price on Nano-X Imaging from $12.00 to $9.00 and set an "overweight" rating for the company in a report on Tuesday, April 1st.

About Nano-X Imaging

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.