Cantor Fitzgerald, a leading financial services firm, has recently reissued its “overweight” rating for Nano-X Imaging, a medical imaging technology company. In a research note released on Monday, Cantor Fitzgerald maintained its positive outlook on Nano-X Imaging and set a price target of $14.00 for the company’s stock. This price target suggests a potential upside of 128.01% from the current stock price.
Nano-X Imaging, listed on NASDAQ under the ticker symbol NNOX, opened at $6.14 on Monday. The company’s stock has experienced fluctuations, with a 50-day simple moving average of $7.07 and a 200-day simple moving average of $8.27. Over the past year, Nano-X Imaging’s stock has ranged from a low of $4.89 to a high of $14.28. The company currently has a market capitalization of $354.76 million, a price-to-earnings ratio of -5.73, and a beta of 2.01.
In its most recent earnings report released on August 20th, Nano-X Imaging reported a quarterly loss of ($0.23) per share, slightly missing the consensus estimate of ($0.22) per share. The company generated $2.70 million in revenue during the quarter. Nano-X Imaging’s net margin stands at a negative 567.41%, and its return on equity is also negative at 30.34%. In the same period last year, the company reported a loss of ($0.31) per share. Analysts anticipate that Nano-X Imaging will post a loss of -0.88 EPS for the current year.
Nano-X Imaging, headquartered in an undisclosed location, is focused on developing a commercial-grade tomographic imaging device that utilizes a digital X-ray source. The company also offers teleradiology services and is actively involved in the development of artificial intelligence applications for real-world medical imaging applications. Nano-X Imaging’s X-ray source is based on a digital micro-electro-mechanical systems semiconductor cathode.