Nano-X Imaging Ltd. [NNOX] is 1.40% higher this YTD. Is it still time to buy?

Nano-X Imaging Ltd. [NASDAQ: NNOX] stock went on a downward path that fall over -13.70% on Thursday, amounting to a one-week price decrease of less than -16.58%. The company report on February 17, 2021 that Nanox to Announce Fourth Quarter and Full Year 2020 Financial and Operating Results on Tuesday, March 2, 2021.

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Management to host conference call and webcast at 8:30 AM ET.

NANO-X IMAGING LTD (NASDAQ: NNOX) (“Nanox” or the “Company”), an innovative medical imaging technology company, announces that it will release its fourth quarter and full year 2020 financial and operating results for the period ended December 31, 2020 on Tuesday, March 2, 2021 prior to the start of trading. Management will host a conference call and webcast at 8:30am ET on that day.

The one-year Nano-X Imaging Ltd. stock forecast points to a potential upside of 28.22. The average equity rating for NNOX stock is currently 2.30, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.08 billion, with 38.02 million shares outstanding and 34.17 million shares in the current float. Compared to the average trading volume of 1.89M shares, NNOX stock reached a trading volume of 2388322 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Nano-X Imaging Ltd. [NNOX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NNOX shares is $64.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NNOX stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Oppenheimer have made an estimate for Nano-X Imaging Ltd. shares, keeping their opinion on the stock as Perform, with their previous recommendation back on September 15, 2020. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Overweight. The new note on the price target was released on September 15, 2020, representing the official price target for Nano-X Imaging Ltd. stock. Previously, the target price had yet another raise to $65, while Berenberg analysts kept a Buy rating on NNOX stock.

The Average True Range (ATR) for Nano-X Imaging Ltd. is set at 8.95 The Price to Book ratio for the last quarter was 7.36, with the Price to Cash per share for the same quarter was set at 5.33.

NNOX Stock Performance Analysis:

Nano-X Imaging Ltd. [NNOX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.58. With this latest performance, NNOX shares dropped by -45.61% in over the last four-week period, additionally plugging by 60.21% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NNOX stock in for the last two-week period is set at 38.86, with the RSI for the last a single of trading hit 33.65, and the three-weeks RSI is set at 42.55 for Nano-X Imaging Ltd. [NNOX]. The present Moving Average for the last 50 days of trading for this stock 57.94, while it was recorded at 51.35 for the last single week of trading.

Insight into Nano-X Imaging Ltd. Fundamentals:

Reflecting on the efficiency of the workforce at the company, Nano-X Imaging Ltd. [NNOX] managed to generate an average of -$1,128,150 per employee.Nano-X Imaging Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 40.10 and a Current Ratio set at 40.10.

Nano-X Imaging Ltd. [NNOX] Insider Position Details

There are presently around $118 million, or 12.40% of NNOX stock, in the hands of institutional investors. The top three institutional holders of NNOX stocks are: CREDIT SUISSE AG/ with ownership of 462,023, which is approximately -53.798% of the company’s market cap and around 27.49% of the total institutional ownership; PHOENIX HOLDINGS LTD., holding 239,138 shares of the stock with an approximate value of $11.07 million in NNOX stocks shares; and MORGAN STANLEY, currently with $9.93 million in NNOX stock with ownership of nearly 396.004% of the company’s market capitalization.

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Positions in Nano-X Imaging Ltd. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 45 institutional holders increased their position in Nano-X Imaging Ltd. [NASDAQ:NNOX] by around 1,645,997 shares. Additionally, 21 investors decreased positions by around 1,846,496 shares, while 3 investors held positions by with 934,935 shares. The mentioned changes placed institutional holdings at 2,557,558 shares, according to the latest SEC report filing. NNOX stock had 32 new institutional investments in for a total of 1,261,852 shares, while 12 institutional investors sold positions of 1,193,668 shares during the same period.

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