Nano-X Imaging (NASDAQ:NNOX) Stock Price Up 8% – Should You Buy?

Nano-X Imaging Ltd. (NASDAQ:NNOX)’s stock price shot up 8% during mid-day trading on Friday . The company traded as high as $9.68 and last traded at $9.58. 1,704,788 shares changed hands during trading, a decline of 75% from the average session volume of 6,702,053 shares. The stock had previously closed at $8.87.

Analyst Ratings Changes

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

Nano-X Imaging Trading Up 4.3 %

The stock has a market capitalization of $534.46 million, a price-to-earnings ratio of -10.88 and a beta of 2.02. The firm’s fifty day moving average price is $6.69 and its 200 day moving average price is $6.79.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NNOX. The Manufacturers Life Insurance Company grew its stake in shares of Nano-X Imaging by 14.8% in the second quarter. The Manufacturers Life Insurance Company now owns 20,210 shares of the company’s stock valued at $148,000 after buying an additional 2,600 shares in the last quarter. Van ECK Associates Corp grew its position in Nano-X Imaging by 14.1% in the 2nd quarter. Van ECK Associates Corp now owns 22,293 shares of the company’s stock valued at $164,000 after acquiring an additional 2,755 shares in the last quarter. Rhumbline Advisers increased its stake in Nano-X Imaging by 3.9% during the second quarter. Rhumbline Advisers now owns 75,920 shares of the company’s stock worth $557,000 after purchasing an additional 2,818 shares during the period. Tidal Investments LLC lifted its position in shares of Nano-X Imaging by 4.6% during the third quarter. Tidal Investments LLC now owns 64,387 shares of the company’s stock worth $391,000 after purchasing an additional 2,846 shares in the last quarter. Finally, Farther Finance Advisors LLC purchased a new position in shares of Nano-X Imaging in the third quarter valued at approximately $25,000. 21.49% of the stock is currently owned by institutional investors and hedge funds.

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.