Nano-X Imaging's (NNOX) "Buy" Rating Reaffirmed at D. Boral Capital

Key Points

• Nano-X Imaging's stock received a reaffirmed "buy" rating from D. Boral Capital, with a target price of $8.00, indicating a potential upside of 92.31%.
• The company recently reported earnings of ($0.23) EPS, missing analyst expectations, with projected earnings per share for the year estimated at -0.92.
• Several analysts have upgraded Nano-X Imaging to a "strong-buy" rating, contributing to a consensus rating of "Strong Buy" with an average target price of $8.50.

Nano-X Imaging (NASDAQ:NNOX - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at D. Boral Capital in a report released on Friday,Benzinga reports. They currently have a $8.00 target price on the stock. D. Boral Capital's price objective points to a potential upside of 92.31% from the company's previous close.

Several other research firms have also recently commented on NNOX. Alliance Global Partners raised Nano-X Imaging to a "strong-buy" rating in a report on Monday, August 11th. LADENBURG THALM/SH SH raised Nano-X Imaging to a "strong-buy" rating in a report on Monday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Strong Buy" and an average target price of $8.50.

Nano-X Imaging Trading Up 6.4%

Nano-X Imaging stock opened at $4.16 on Friday. Nano-X Imaging has a twelve month low of $3.63 and a twelve month high of $11.00. The stock has a 50 day moving average of $4.43 and a two-hundred day moving average of $4.95. The stock has a market capitalization of $240.36 million, a price-to-earnings ratio of -4.62 and a beta of 1.94.

Nano-X Imaging (NASDAQ:NNOX - Get Free Report) last posted its quarterly 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 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%. Equities analysts predict that Nano-X Imaging will post -0.92 earnings per share for the current year.

Hedge Funds Weigh In On Nano-X Imaging

Several hedge funds have recently bought and sold shares of NNOX. GAMMA Investing LLC increased its stake in Nano-X Imaging by 1,755.9% in the 1st quarter. GAMMA Investing LLC now owns 7,962 shares of the company's stock valued at $40,000 after purchasing an additional 7,533 shares in the last quarter. Vident Advisory LLC purchased a new position in Nano-X Imaging during the first quarter worth $55,000. Fox Run Management L.L.C. purchased a new position in Nano-X Imaging during the second quarter worth $57,000. Gainplan LLC purchased a new position in Nano-X Imaging during the second quarter worth $59,000. Finally, BNP Paribas Financial Markets increased its position in Nano-X Imaging by 193.7% during the second quarter. BNP Paribas Financial Markets now owns 11,994 shares of the company's stock worth $62,000 after buying an additional 7,910 shares in the last quarter. 21.49% of the stock is owned by hedge funds and other institutional investors.

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.

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