Nano X Imaging Ltd (NASDAQ:NNOX) price on Thursday, January 16, fall -1.24% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $8.34.
A look at the stock’s price movement, the close in the last trading session was $8.44, moving within a range at $8.185 and $8.53. The beta value (5-Year monthly) was 2.002. Turning to its 52-week performance, $14.28 and $5.26 were the 52-week high and 52-week low respectively. Overall, NNOX moved 21.04% over the past month.
Nano X Imaging Ltd’s market cap currently stands at around $487.89 million, with investors looking forward to this quarter’s earnings report slated for in February.
Analysts have a consensus estimate of 3.8M for the company’s revenue for the quarter, with a low and high estimate of 3.1M and 4.2M respectively. The average forecast suggests up to a 58.53% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 11.89M, representing a 20.06% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that NNOX is a 100% Buy. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
2 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 2 recommend NNOX as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
NNOX’s current price about 6.02% and 18.26% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 54.91, while 7-day volatility ratio is 9.46% and 11.11% in the 30-day chart. Further, Nano X Imaging Ltd (NNOX) has a beta value of 1.96, and an average true range (ATR) of 0.88. Analysts have given the company’s stock an average 52-week price target of $18, forecast between a low of $18 and high of $18. Looking at the price targets, the low is -115.83% off current price level while to achieve the yearly target high, price needs to move -115.83%. Nonetheless, investors will most likely welcome a -115.83% jump to $18 which is the analysts’ median price.
If we refocus on Nano X Imaging Ltd (NASDAQ:NNOX), historical trading data shows that trading volumes averaged 5.8 over the past 10 days and 3.05 million over the past 3 months. The company’s latest data on shares outstanding shows there are 58.52 million shares.
The 9.37% of Nano X Imaging Ltd’s shares are in the hands of company insiders while institutional holders own 18.34% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 7.25 million on 2024-10-31, giving us a short ratio of 10.11. The data shows that as of 2024-10-31 short interest in Nano X Imaging Ltd (NNOX) stood at 1297.9999 of shares outstanding, with shares short falling to 7.26 million registered in 2024-09-30. Current price change has pushed the stock 15.83% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the NNOX stock continues to rise going into the next quarter.
