Nano-X Imaging (NASDAQ:NNOX) Issues Quarterly Earnings Results

Nano-X Imaging (NASDAQ:NNOX – Get Rating) issued its quarterly earnings results on Monday. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.13, MarketWatch Earnings reports. The firm had revenue of $2.45 million for the quarter. Nano-X Imaging had a negative net margin of 1,034.37% and a negative return on equity of 39.35%. During the same period last year, the firm earned ($0.41) earnings per share.

Nano-X Imaging Price Performance

NASDAQ:NNOX traded up $0.77 during mid-day trading on Wednesday, reaching $19.16. The stock had a trading volume of 1,536,268 shares, compared to its average volume of 1,523,134. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.29 and a quick ratio of 3.29. Nano-X Imaging has a 12 month low of $5.31 and a 12 month high of $21.50. The stock has a market capitalization of $1.06 billion, a PE ratio of -11.03 and a beta of 1.82. The stock has a 50-day simple moving average of $9.56 and a two-hundred day simple moving average of $9.19.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald raised their price objective on Nano-X Imaging from $21.00 to $30.00 in a research report on Wednesday.

Institutional Investors Weigh In On Nano-X Imaging

Several hedge funds and other institutional investors have recently made changes to their positions in NNOX. State Street Corp grew its holdings in Nano-X Imaging by 269.0% during the 2nd quarter. State Street Corp now owns 812,290 shares of the company’s stock worth $9,179,000 after acquiring an additional 592,180 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Nano-X Imaging by 245.6% in the 1st quarter. Renaissance Technologies LLC now owns 568,990 shares of the company’s stock worth $6,168,000 after purchasing an additional 404,362 shares in the last quarter. Northern Trust Corp acquired a new position in shares of Nano-X Imaging during the second quarter valued at about $3,265,000. BlackRock Inc. increased its holdings in Nano-X Imaging by 10.4% during the 3rd quarter. BlackRock Inc. now owns 2,964,377 shares of the company’s stock worth $34,003,000 after purchasing an additional 279,068 shares in the last quarter. Finally, Rhumbline Advisers bought a new stake in Nano-X Imaging during the second quarter worth $857,000. 17.56% of the stock is owned by institutional investors.

About Nano-X Imaging

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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.