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Nano-X Imaging Ltd. (NASDAQ: NNOX) At $18.94 Is Worth A Gamble

During the last session, Nano-X Imaging Ltd. (NASDAQ:NNOX)’s traded shares were 2.81 million. At the end of the trading day, the stock’s price was $18.94, reflecting an intraday gain of 2.99% or $0.55. The 52-week high for the NNOX share is $21.50, that puts it down -13.52 from that peak though still a striking 71.96% gain since the share price plummeted to a 52-week low of $5.31. The company’s market capitalization is $1.02B, and the average intraday trading volume over the past 10 days was 3.94 million shares, and the average trade volume was 2.13 million shares over the past three months.

Nano-X Imaging Ltd. (NNOX) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.50. NNOX has a Sell rating from 0 analyst(s) out of 2 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 2 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.26.

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Nano-X Imaging Ltd. (NASDAQ:NNOX) trade information

Nano-X Imaging Ltd. (NNOX) registered a 2.99% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 2.99% in intraday trading to $18.94 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 9.35%, and it has moved by 225.43% in 30 days. Based on these gigs, the overall price performance for the year is 97.50%. The short interest in Nano-X Imaging Ltd. (NASDAQ:NNOX) is 6.27 million shares and it means that shorts have 12.63 day(s) to cover.

The consensus price target of analysts on Wall Street is $32.00, which implies an increase of 40.81% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $30.00 and $34.00 respectively. As a result, NNOX is trading at a discount of -79.51% off the target high and -58.39% off the low.

Nano-X Imaging Ltd. (NNOX) estimates and forecasts

Statistics show that Nano-X Imaging Ltd. has outperformed its competitors in share price, compared to the industry in which it operates. Nano-X Imaging Ltd. (NNOX) shares have gone up 74.72% during the last six months, with a year-to-date growth rate more than the industry average at 31.84% against 18.80. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 31.60% this quarter and then jump 29.70% in the quarter after that. In the rating firms’ projections, revenue will increase 99.90% compared to the previous financial year.

Revenue for the current quarter is expected to be $3.61 million as predicted by 2 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to $4.69 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $2.2 million and $2.44 million respectively. In this case, analysts expect current quarter sales to grow by 64.10% and then jump by 92.40% in the coming quarter.

While earnings are projected to return -69.10% in 2023.

NNOX Dividends

Nano-X Imaging Ltd. is due to release its next quarterly earnings between August 14 and August 18. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Nano-X Imaging Ltd. (NASDAQ:NNOX)’s Major holders

Nano-X Imaging Ltd. insiders own 14.01% of total outstanding shares while institutional holders control 17.51%, with the float percentage being 20.36%. Blackrock Inc. is the largest shareholder of the company, while 138 institutions own stock in it. As of Mar 30, 2023, the company held over 3.05 million shares (or 5.53% of all shares), a total value of $57.78 million in shares.

The next largest institutional holding, with 0.97 million shares, is of State Street Corporation’s that is approximately 1.76% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $18.38 million.

Also, the Mutual Funds coming in first place with the largest holdings of Nano-X Imaging Ltd. (NNOX) shares are iShares Russell 2000 ETF and iShares Russell 2000 Value ETF. Data provided on Feb 27, 2023 indicates that iShares Russell 2000 ETF owns about 1.01 million shares. This amounts to just over 1.93 percent of the company’s overall shares, with a $19.04 million market value. The same data shows that the other fund manager holds slightly less at 0.41 million, or about 0.79% of the stock, which is worth about $7.83 million.

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