Nano-X Imaging (NASDAQ:NNOX) Posts Quarterly Earnings Results, Beats Expectations By $0.13 EPS

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

Nano-X Imaging Stock Performance

Shares of NNOX traded up $0.54 during mid-day trading on Wednesday, hitting $18.93. 1,572,874 shares of the company’s stock were exchanged, compared to its average volume of 1,525,423. Nano-X Imaging has a fifty-two week low of $5.31 and a fifty-two week high of $21.50. The firm has a market capitalization of $1.04 billion, a P/E ratio of -11.03 and a beta of 1.82. The business’s 50 day moving average is $9.56 and its two-hundred day moving average is $9.19. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.02.

Institutional Investors Weigh In On Nano-X Imaging

A number of hedge funds have recently added to or reduced their stakes in NNOX. State Street Corp lifted its position in Nano-X Imaging by 269.0% in the second quarter. State Street Corp now owns 812,290 shares of the company’s stock valued at $9,179,000 after purchasing an additional 592,180 shares during the period. Renaissance Technologies LLC lifted its position in Nano-X Imaging by 245.6% in the first quarter. Renaissance Technologies LLC now owns 568,990 shares of the company’s stock valued at $6,168,000 after purchasing an additional 404,362 shares during the period. Northern Trust Corp acquired a new stake in Nano-X Imaging in the second quarter valued at about $3,265,000. BlackRock Inc. lifted its position in Nano-X Imaging by 10.4% in the third quarter. BlackRock Inc. now owns 2,964,377 shares of the company’s stock valued at $34,003,000 after purchasing an additional 279,068 shares during the period. Finally, Rhumbline Advisers acquired a new stake in Nano-X Imaging in the second quarter valued at about $857,000. Institutional investors and hedge funds own 17.56% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald increased their target price on shares of Nano-X Imaging from $21.00 to $30.00 in a research note on Wednesday.

Nano-X Imaging Company Profile

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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.