Nano X Imaging Ltd (NASDAQ:NNOX) shares, rose in value, with the stock price down by -6.44% to the previous day’s close as strong demand from buyers drove the stock to $8.42.
Actively observing the price movement in the recent trading, the stock is buoying the session at $9.00, falling within a range of $8.35 and $8.8599. The value of beta (5-year monthly) is 2.002. Referring to stock’s 52-week performance, its high was $14.28, and the low was $5.26. On the whole, NNOX has fluctuated by 28.16% over the past month.
With the market capitalization of Nano X Imaging Ltd currently standing at about $492.57 million, investors are eagerly awaiting this quarter’s results, scheduled for in February.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 11.89M, with a low estimate of 3.1M and a high estimate of 4.2M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 3.8M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that NNOX’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the price of NNOX currently trading nearly 2.56% and 15.96% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 54.10, while the 7-day volatility ratio is showing 9.09% which for the 30-day chart, stands at 10.64%. Furthermore, Nano X Imaging Ltd (NNOX)’s beta value is 2.00, and its average true range (ATR) is 0.83.
A comparison of Nano X Imaging Ltd (NNOX) with its peers suggests the former has fared considerably weaker in the market. NNOX showed an intraday change of -6.44% in today’s session so far, and over the past year, it grew by 52.26%%.
Data on historical trading for Nano X Imaging Ltd (NASDAQ:NNOX) indicates that the trading volumes over the past 10 days have averaged 3.55 and over the past 3 months, they’ve averaged 3.22 million. According to company’s latest data on outstanding shares, there are 58.52 million shares outstanding.
Nearly 9.37% of Nano X Imaging Ltd’s shares belong to company insiders and institutional investors own 18.39% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 7.25 million shares as on 2024-10-31, resulting in a short ratio of 10.11. According to the data, the short interest in Nano X Imaging Ltd (NNOX) stood at 1298.00 of shares outstanding as of 2024-10-31; the number of short shares registered in 2024-09-30 reached 7.26 million. The stock has risen by 16.94% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NNOX stock heading into the next quarter.
