Nano-X Imaging (NASDAQ:NNOX) Sees Large Volume Increase – Should You Buy?

Nano-X Imaging Ltd. (NASDAQ:NNOX) saw strong trading volume on Thursday . 4,245,071 shares were traded during trading, an increase of 111% from the previous session’s volume of 2,012,700 shares.The stock last traded at $8.75 and had previously closed at $7.20.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald raised their price objective on shares of Nano-X Imaging from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Friday, December 6th.

Nano-X Imaging Price Performance

The business has a 50-day moving average of $6.69 and a 200 day moving average of $6.79. The company has a market capitalization of $534.46 million, a PE ratio of -10.88 and a beta of 2.02.

Institutional Investors Weigh In On Nano-X Imaging

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in shares of Nano-X Imaging by 16.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 41,364 shares of the company’s stock worth $251,000 after purchasing an additional 5,930 shares during the last quarter. Franklin Resources Inc. purchased a new stake in Nano-X Imaging in the third quarter valued at $140,000. Tidal Investments LLC lifted its position in Nano-X Imaging by 4.6% in the third quarter. Tidal Investments LLC now owns 64,387 shares of the company’s stock valued at $391,000 after buying an additional 2,846 shares during the last quarter. Barclays PLC boosted its position in shares of Nano-X Imaging by 258.5% during the 3rd quarter. Barclays PLC now owns 86,181 shares of the company’s stock worth $523,000 after purchasing an additional 62,140 shares during the period. Finally, Geode Capital Management LLC grew 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 valued at $4,121,000 after buying an additional 14,560 shares in the last quarter. 21.49% of the stock is 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.