Nano-X Imaging (NASDAQ:NNOX) Sees Large Volume Increase – Should You Buy?

Shares of Nano-X Imaging Ltd. (NASDAQ:NNOX) saw strong trading volume on Thursday . 4,245,071 shares were traded during mid-day trading, an increase of 111% from the previous session’s volume of 2,012,700 shares.The stock last traded at $8.75 and had previously closed at $7.20.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald boosted their price objective on Nano-X Imaging from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Friday, December 6th.

Nano-X Imaging Trading Up 28.5 %

The company has a market capitalization of $534.46 million, a PE ratio of -10.88 and a beta of 2.02. The firm’s 50-day simple moving average is $6.56 and its 200-day simple moving average is $6.77.

Institutional Investors Weigh In On Nano-X Imaging

Institutional investors and hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC bought a new position in shares of Nano-X Imaging during the 3rd quarter worth $25,000. Verition Fund Management LLC bought a new position in Nano-X Imaging during the 3rd quarter worth about $88,000. Creative Planning bought a new position in shares of Nano-X Imaging during the third quarter valued at approximately $107,000. Intech Investment Management LLC bought a new stake in Nano-X Imaging during the third quarter valued at about $124,000. Finally, SG Americas Securities LLC acquired a new stake in Nano-X Imaging in the third quarter valued at approximately $124,000. 21.49% of the stock is owned by institutional investors.

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.