Nano X Imaging Ltd (NASDAQ: NNOX) stock jumped 2.59% on Friday to $6.54 against a previous-day closing price of $6.38. With 0.6 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.01 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $6.55 whereas the lowest price it dropped to was $6.30. The 52-week range on NNOX shows that it touched its highest point at $22.69 and its lowest point at $4.89 during that stretch. It currently has a 1-year price target of $23.67. Beta for the stock currently stands at 1.81.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NNOX was up-trending over the past week, with a rise of 16.16%, but this was up by 9.55% over a month. Three-month performance dropped to -23.01% while six-month performance fell -63.40%. The stock lost -46.70% in the past year, while it has lost -11.38% so far this year. A look at the trailing 12-month EPS for NNOX yields -1.75 with Next year EPS estimates of -0.96. For the next quarter, that number is -0.30. This implies an EPS growth rate of 43.28% for this year and 16.08% for next year.
Float and Shares Shorts:
At present, 55.09 million NNOX shares are outstanding with a float of 51.09 million shares on hand for trading. On Oct 30, 2023, short shares totaled 7.99 million, which was 14.38% higher than short shares on Sep 28, 2023. In addition to NNOX as the firm’s NANO-X IMAGING LTD, NNLX serves as its NANOLOGIX INC.
Institutional Ownership:
Through their ownership of 19.51% of NNOX’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 9.39% of NNOX, in contrast to 12.96% held by mutual funds. As the largest shareholder in NNOX with 5.46% of the stake, BlackRock Fund Advisors holds 3,130,028 shares worth 3,130,028. A second-largest stockholder of NNOX, SSgA Funds Management, Inc., holds 1,171,706 shares, controlling over 2.05% of the firm’s shares. Credit Suisse Asset Management is the third largest shareholder in NNOX, holding 688,184 shares or 1.20% stake. With a 1.92% stake in NNOX, the iShares Russell 2000 ETF is the largest stakeholder. A total of 1,098,093 shares are owned by the mutual fund manager. The CS Invt. Fds. 2 -, which owns about 1.14% of NNOX stock, is the second-largest Mutual Fund holder. It holds 650,000 shares valued at 3.28 million. Fidelity Small Cap Index Fund holds 0.74% of the stake in NNOX, owning 422,215 shares worth 2.13 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NNOX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With NNOX analysts setting a high price target of $30.00 and a low target of $14.50, the average target price over the next 12 months is $23.67. Based on these targets, NNOX could surge 358.72% to reach the target high and rise by 121.71% to reach the target low. Reaching the average price target will result in a growth of 261.93% from current levels.
