Sunday, April 11, 2021

Nano-X Imaging Ltd. [NNOX] is 6.33% higher this YTD. Is it still time to buy?

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Nano-X Imaging Ltd. [NASDAQ: NNOX] closed the trading session at $48.55 on 04/05/21. The day’s price range saw the stock hit a low of $47.26, while the highest price level was $64.00. The company report on April 2, 2021 that Nanox Announces FDA Clearance of 510(k) for Single Source Nanox.ARC Digital X-Ray.

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NANO-X IMAGING LTD (NASDAQ: NNOX) (“Nanox” or the “Company”), an innovative medical imaging technology company, announced that its single-source Nanox.ARC digital x-ray technology has received 510(k) clearance from the US Food and Drug Administration (the “FDA”).

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“Obtaining 510(k) clearance from the FDA for our single-source Nanox.ARC digital x-ray is a significant step forward along our US regulatory pathway,” stated Ran Poliakine, Chairman and Chief Executive Officer of Nanox. “We remain on track to commence system shipments in the fourth quarter of 2021 and the first quarter of 2022 with the goal of finalizing deployment of the initial 15,000 Nanox.ARC systems by the end of 2024.”.

The stocks have a year to date performance of 6.33 percent and weekly performance of 22.88 percent. The stock has been moved at 102.54 percent over the last six months. The stock has performed 33.34 percent around the most recent 30 days and changed 6.33 percent over the most recent 3-months.

If compared to the average trading volume of 1.90M shares, NNOX reached to a volume of 28534392 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 $61.50 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 5.72 The Price to Book ratio for the last quarter was 9.67, with the Price to Cash per share for the same quarter was set at 4.62.

NNOX stock trade performance evaluation

Nano-X Imaging Ltd. [NNOX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 22.88. With this latest performance, NNOX shares gained by 33.34% in over the last four-week period, additionally plugging by 102.54% 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 54.59, with the RSI for the last a single of trading hit 62.66, and the three-weeks RSI is set at 51.27 for Nano-X Imaging Ltd. [NNOX]. The present Moving Average for the last 50 days of trading for this stock 54.12, while it was recorded at 41.80 for the last single week of trading.

Nano-X Imaging Ltd. [NNOX]: An insightful look at the core fundamentals

Return on Total Capital for NNOX is now -39.23, given the latest momentum, and Return on Invested Capital for the company is -39.25. Return on Equity for this stock declined to -39.48, with Return on Assets sitting at -35.33. When it comes to the capital structure of this company, Nano-X Imaging Ltd. [NNOX] has a Total Debt to Total Equity ratio set at 0.62. Additionally, NNOX Total Debt to Total Capital is recorded at 0.62, with Total Debt to Total Assets ending up at 0.61. Long-Term Debt to Equity for the company is recorded at 0.40, with the Long-Term Debt to Total Capital now at 0.40.

Nano-X Imaging Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 49.10 and a Current Ratio set at 49.10.

Nano-X Imaging Ltd. [NNOX]: Insider Ownership positions

There are presently around $124 million, or 10.70% 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 28.79% of the total institutional ownership; PHOENIX HOLDINGS LTD., holding 239,138 shares of the stock with an approximate value of $11.61 million in NNOX stocks shares; and MORGAN STANLEY, currently with $10.41 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 June and at the time of the June reporting period, where 47 institutional holders increased their position in Nano-X Imaging Ltd. [NASDAQ:NNOX] by around 1,646,250 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 2,557,811 shares, according to the latest SEC report filing. NNOX stock had 34 new institutional investments in for a total of 1,262,105 shares, while 12 institutional investors sold positions of 1,193,668 shares during the same period.

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