Nano-X Imaging (NASDAQ:NNOX) Upgraded at Alliance Global Partners

Key Points

• Nano-X Imaging (NASDAQ:NNOX) has been upgraded to a "strong-buy" rating by Alliance Global Partners, indicating increased confidence in the stock's potential by analysts.
• The company reported a $0.23 loss per share for the last quarter, falling short of analysts' expectations, and generated $3.04 million in revenue against estimates of $3.20 million.
• Despite recent upgrades, the stock has seen a decline, currently trading at $4.45, which is down 5.5% on the day.

Nano-X Imaging (NASDAQ:NNOX - Get Free Report) was upgraded by investment analysts at Alliance Global Partners to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

Several other equities analysts also recently commented on the stock. D. Boral Capital reissued a "buy" rating and set a $10.00 target price on shares of Nano-X Imaging in a research report on Friday, June 6th. LADENBURG THALM/SH SH upgraded shares of Nano-X Imaging to a "strong-buy" rating in a report on Monday, July 14th.

Nano-X Imaging Trading Down 1.8%

Nano-X Imaging stock traded down $0.08 during mid-day trading on Monday, hitting $4.42. 1,004,630 shares of the company's stock were exchanged, compared to its average volume of 1,350,264. The stock has a market cap of $255.38 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. The stock has a 50 day moving average of $5.05 and a two-hundred day moving average of $5.41.

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

Institutional Investors Weigh In On Nano-X Imaging

Hedge funds have recently made changes to their positions in the stock. OneDigital Investment Advisors LLC lifted its stake in shares of Nano-X Imaging by 16.5% in the first quarter. OneDigital Investment Advisors LLC now owns 32,271 shares of the company's stock valued at $161,000 after buying an additional 4,570 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Nano-X Imaging in the fourth quarter valued at about $251,000. Rhumbline Advisers lifted its stake in shares of Nano-X Imaging by 6.6% in the first quarter. Rhumbline Advisers now owns 76,728 shares of the company's stock valued at $383,000 after buying an additional 4,756 shares during the period. Stifel Financial Corp lifted its stake in shares of Nano-X Imaging by 98.9% in the fourth quarter. Stifel Financial Corp now owns 23,318 shares of the company's stock valued at $168,000 after buying an additional 11,596 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Nano-X Imaging by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 688,512 shares of the company's stock valued at $4,957,000 after buying an additional 10,659 shares during the period. 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.