Nano-X Imaging (NASDAQ:NNOX) Trading 17.5% Higher – Time to Buy?

Nano-X Imaging Ltd. (NASDAQ:NNOX)’s share price rose 17.5% during trading on Wednesday . The company traded as high as $8.83 and last traded at $8.79. Approximately 1,457,927 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 5,383,432 shares. The stock had previously closed at $7.48.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Cantor Fitzgerald boosted 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 note on Friday, December 6th. D. Boral Capital assumed coverage on Nano-X Imaging in a report on Monday, January 6th. They set a “buy” rating and a $23.00 price target on the stock.

Nano-X Imaging Stock Down 1.2 %

The business’s 50-day moving average price is $7.11 and its 200-day moving average price is $6.88.

Institutional Investors Weigh In On Nano-X Imaging

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NNOX. Barclays PLC increased its stake in shares of Nano-X Imaging by 258.5% in the third quarter. Barclays PLC now owns 86,181 shares of the company’s stock worth $523,000 after acquiring an additional 62,140 shares during the last quarter. Franklin Resources Inc. purchased a new position in Nano-X Imaging in the third quarter valued at about $140,000. SG Americas Securities LLC purchased a new stake in shares of Nano-X Imaging during the 3rd quarter worth about $124,000. Intech Investment Management LLC acquired a new stake in shares of Nano-X Imaging during the 3rd quarter valued at about $124,000. Finally, State Street Corp grew its stake in shares of Nano-X Imaging by 2.1% in the 3rd quarter. State Street Corp now owns 983,305 shares of the company’s stock valued at $5,978,000 after buying an additional 20,279 shares in the last quarter. Hedge funds and other institutional investors own 21.49% of the company’s stock.

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.