Nano-X Imaging (NASDAQ:NNOX) Trading Up 17.5% – Still a Buy?

Nano-X Imaging Ltd. (NASDAQ:NNOX)’s share price was up 17.5% during trading on Wednesday . The stock traded as high as $8.83 and last traded at $8.79. Approximately 1,457,927 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 5,383,432 shares. The stock had previously closed at $7.48.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Cantor Fitzgerald increased their price target on Nano-X Imaging from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. D. Boral Capital started coverage on Nano-X Imaging in a research note on Monday, January 6th. They set a “buy” rating and a $23.00 target price on the stock.

Nano-X Imaging Trading Up 11.4 %

The stock’s fifty day moving average is $7.07 and its two-hundred day moving average is $6.87. The firm has a market cap of $481.30 million, a P/E ratio of -9.80 and a beta of 1.97.

Institutional Trading of Nano-X Imaging

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp increased its stake in Nano-X Imaging by 2.1% in the 3rd quarter. State Street Corp now owns 983,305 shares of the company’s stock worth $5,978,000 after purchasing an additional 20,279 shares during the period. Geode Capital Management LLC increased its stake in shares of Nano-X Imaging by 2.2% in the third quarter. Geode Capital Management LLC now owns 677,853 shares of the company’s stock worth $4,121,000 after buying an additional 14,560 shares during the period. ARK Investment Management LLC raised its holdings in Nano-X Imaging by 5.2% during the 3rd quarter. ARK Investment Management LLC now owns 252,633 shares of the company’s stock valued at $1,536,000 after buying an additional 12,408 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Nano-X Imaging by 7.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 185,167 shares of the company’s stock valued at $1,359,000 after buying an additional 13,085 shares during the period. Finally, Tempus Wealth Planning LLC grew its holdings in Nano-X Imaging by 3.6% in the 3rd quarter. Tempus Wealth Planning LLC now owns 121,137 shares of the company’s stock worth $737,000 after acquiring an additional 4,230 shares during the last quarter. 21.49% of the stock is currently owned by hedge funds and other institutional investors.

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.