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

Nano-X Imaging (NASDAQ:NNOX – Get Rating) announced its quarterly earnings results on Monday. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.13, MarketWatch Earnings reports. The company 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 quarter in the previous year, the company posted ($0.41) earnings per share.

Nano-X Imaging Stock Performance

Shares of NNOX stock traded up $1.04 during trading hours on Wednesday, reaching $19.43. The company had a trading volume of 1,722,085 shares, compared to its average volume of 1,526,048. The business has a fifty day moving average price of $9.56 and a 200-day moving average price of $9.19. Nano-X Imaging has a one year low of $5.31 and a one year high of $21.50. The firm has a market cap of $1.07 billion, a PE ratio of -11.03 and a beta of 1.82. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.29.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Nano-X Imaging

A number of institutional investors have recently bought and sold shares of the business. Boothbay Fund Management LLC raised its holdings in Nano-X Imaging by 6.6% in the first quarter. Boothbay Fund Management LLC now owns 12,439 shares of the company’s stock worth $72,000 after purchasing an additional 772 shares in the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of Nano-X Imaging by 1.4% during the third quarter. UBS Asset Management Americas Inc. now owns 61,544 shares of the company’s stock valued at $706,000 after acquiring an additional 842 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Nano-X Imaging by 11.7% during the first quarter. Principal Financial Group Inc. now owns 13,348 shares of the company’s stock valued at $77,000 after acquiring an additional 1,403 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Nano-X Imaging by 9.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 17,339 shares of the company’s stock valued at $128,000 after acquiring an additional 1,451 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in shares of Nano-X Imaging by 7.1% during the fourth quarter. Citigroup Inc. now owns 29,624 shares of the company’s stock valued at $219,000 after acquiring an additional 1,970 shares in the last quarter. Hedge funds and other institutional investors own 17.56% of the company’s stock.

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.