ARK Investment Management LLC Trims Position in Nano-X Imaging Ltd. (NASDAQ:NNOX)

ARK Investment Management LLC decreased its position in shares of Nano-X Imaging Ltd. (NASDAQ:NNOX) by 34.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 240,225 shares of the company’s stock after selling 127,328 shares during the quarter. ARK Investment Management LLC’s holdings in Nano-X Imaging were worth $1,763,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NNOX. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Nano-X Imaging by 27.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,133 shares of the company’s stock worth $109,000 after acquiring an additional 3,639 shares during the last quarter. Olympiad Research LP increased its holdings in shares of Nano-X Imaging by 35.1% in the fourth quarter. Olympiad Research LP now owns 16,832 shares of the company’s stock worth $107,000 after purchasing an additional 4,375 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Nano-X Imaging by 471.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,425 shares of the company’s stock worth $54,000 after buying an additional 6,950 shares in the last quarter. Cantor Fitzgerald L. P. purchased a new stake in shares of Nano-X Imaging in the fourth quarter worth about $196,000. Finally, Virtu Financial LLC bought a new position in Nano-X Imaging during the fourth quarter valued at approximately $294,000. Institutional investors own 21.49% of the company’s stock.

Analyst Ratings Changes

Separately, Cantor Fitzgerald reissued an “overweight” rating and set a $18.00 price objective on shares of Nano-X Imaging in a research note on Wednesday, May 29th.

Nano-X Imaging Price Performance

Shares of NASDAQ:NNOX traded down $0.32 on Tuesday, hitting $6.67. 929,641 shares of the company’s stock were exchanged, compared to its average volume of 2,111,849. The stock has a market capitalization of $385.39 million, a price-to-earnings ratio of -6.29 and a beta of 2.04. Nano-X Imaging Ltd. has a 12 month low of $4.89 and a 12 month high of $14.28. The business’s 50 day simple moving average is $7.51 and its two-hundred day simple moving average is $8.76.

Nano-X Imaging (NASDAQ:NNOX) last issued its earnings results on Tuesday, August 20th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.01). Nano-X Imaging had a negative net margin of 611.89% and a negative return on equity of 31.57%. The firm had revenue of $2.70 million for the quarter. During the same period in the previous year, the business posted ($0.31) earnings per share. Equities analysts forecast that Nano-X Imaging Ltd. will post -0.86 EPS for the current fiscal year.

Nano-X Imaging 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.