Van ECK Associates Corp Decreases Position in Nano-X Imaging Ltd. (NASDAQ:NNOX)

Van ECK Associates Corp lowered its stake in shares of Nano-X Imaging Ltd. (NASDAQ:NNOX) by 7.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,955 shares of the company’s stock after selling 1,689 shares during the period. Van ECK Associates Corp’s holdings in Nano-X Imaging were worth $151,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC purchased a new position in Nano-X Imaging in the 3rd quarter valued at approximately $25,000. Verition Fund Management LLC purchased a new position in Nano-X Imaging in the 3rd quarter valued at approximately $88,000. Gainplan LLC purchased a new position in Nano-X Imaging in the 4th quarter valued at approximately $92,000. Kingsview Wealth Management LLC purchased a new position in Nano-X Imaging in the 4th quarter valued at approximately $94,000. Finally, Creative Planning purchased a new position in Nano-X Imaging in the 3rd quarter valued at approximately $107,000. 21.49% of the stock is currently owned by hedge funds and other institutional investors.

Nano-X Imaging Stock Performance

NASDAQ NNOX opened at $6.30 on Monday. Nano-X Imaging Ltd. has a 52-week low of $5.27 and a 52-week high of $12.65. The company has a market capitalization of $364.01 million, a P/E ratio of -7.41 and a beta of 1.96. The company has a fifty day moving average of $7.61 and a 200-day moving average of $6.79.

Nano-X Imaging (NASDAQ:NNOX) last posted its quarterly earnings results on Thursday, November 21st. The company reported ($0.23) earnings per share for the quarter. Nano-X Imaging had a negative return on equity of 27.63% and a negative net margin of 465.38%. During the same quarter in the prior year, the company earned ($0.37) earnings per share. As a group, analysts forecast that Nano-X Imaging Ltd. will post -0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NNOX shares. Cantor Fitzgerald lifted their price objective 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 started coverage on shares of Nano-X Imaging in a report on Monday, January 6th. They issued a “buy” rating and a $23.00 price target for the company.

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.