Nano-X Imaging (NNOX) to Post Quarterly Earnings on Tuesday

Key Points

• Nano-X Imaging is expected to report quarterly results before the market opens Tuesday, August 11. Analysts forecast a loss of $0.1633 per share and revenue of approximately $5.39 million, compared with the prior quarter’s $0.16 loss and $4.31 million in revenue.
• The company remains financially challenged, with a negative 716.44% net margin and 70.96% negative return on equity. Shares recently traded near $1.09, well below their 52-week high of $4.95.
• Analyst sentiment is mixed, with a “Moderate Buy” consensus and an average price target of $4.00, while insiders recently purchased shares at $0.93 each. Institutional investors and hedge funds own about 21.49% of the stock.

Nano-X Imaging (NASDAQ:NNOX - Get Free Report) will likely be issuing its results before the market opens on Tuesday, August 11th. Analysts expect the company to announce earnings of ($0.1633) per share and revenue of $5.3850 million for the quarter.

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

Nano-X Imaging (NASDAQ:NNOX - Get Free Report) last released its quarterly earnings results on Thursday, June 25th. The company reported ($0.16) earnings per share for the quarter. The firm had revenue of $4.31 million during the quarter. Nano-X Imaging had a negative return on equity of 70.96% and a negative net margin of 716.44%. On average, analysts expect Nano-X Imaging to post $-1 EPS for the current fiscal year and $-0 EPS for the next fiscal year.

Nano-X Imaging Price Performance

NNOX traded down $0.01 during trading on Tuesday, reaching $1.09. 388,845 shares of the stock were exchanged, compared to its average volume of 1,602,809. The company has a market capitalization of $76.21 million, a price-to-earnings ratio of -0.69 and a beta of 1.27. Nano-X Imaging has a 1 year low of $0.73 and a 1 year high of $4.95. The business's 50 day moving average price is $1.40 and its two-hundred day moving average price is $2.02.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Zacks Research raised shares of Nano-X Imaging from a "strong sell" rating to a "hold" rating in a research note on Monday, June 22nd. Alliance Global Partners cut shares of Nano-X Imaging from a "buy" rating to a "neutral" rating and cut their target price for the stock from $5.00 to $3.00 in a research report on Tuesday, July 7th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Nano-X Imaging in a report on Wednesday, July 8th. Finally, D. Boral Capital reiterated a "buy" rating and issued a $5.00 price target on shares of Nano-X Imaging in a research report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Nano-X Imaging currently has an average rating of "Moderate Buy" and an average price target of $4.00.

Insider Activity

In other news, Director Dan S. Suesskind purchased 50,000 shares of the stock in a transaction dated Monday, July 27th. The stock was acquired at an average cost of $0.93 per share, for a total transaction of $46,500.00. Following the completion of the acquisition, the director directly owned 50,000 shares in the company, valued at $46,500. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Erez Meltzer acquired 36,000 shares of the business's stock in a transaction dated Monday, July 27th. The stock was purchased at an average cost of $0.93 per share, with a total value of $33,480.00. Following the transaction, the chief executive officer owned 36,000 shares of the company's stock, valued at approximately $33,480. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Institutional Trading of Nano-X Imaging

Hedge funds have recently added to or reduced their stakes in the business. Weiss Asset Management LP acquired a new position in shares of Nano-X Imaging during the 4th quarter valued at about $8,424,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Nano-X Imaging by 232.4% in the 1st 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 buying an additional 1,510,806 shares during the period. State Street Corp raised its position in shares of Nano-X Imaging by 1.2% in the 4th quarter. State Street Corp now owns 1,176,202 shares of the company's stock worth $3,293,000 after buying an additional 14,422 shares during the period. UBS Group AG boosted its holdings in Nano-X Imaging by 68.8% in the third quarter. UBS Group AG now owns 1,086,645 shares of the company's stock valued at $4,021,000 after acquiring an additional 442,899 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Nano-X Imaging by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 824,594 shares of the company's stock valued at $2,309,000 after acquiring an additional 37,436 shares during the period. 21.49% of the stock is owned by institutional investors and hedge funds.

Nano-X Imaging Company Profile

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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