Nano X Imaging Ltd (NASDAQ:NNOX) price on current trading day, rose 1.75% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $6.40.
A look at the stock’s price movement, the close in the last trading session was $6.29. Turning to its 52-week performance, $12.65 and $5.27 were the 52-week high and 52-week low respectively. Overall, NNOX moved -14.67% over the past month.
Nano X Imaging Ltd’s market cap currently stands at around $374.39 million, with investors looking forward to this quarter’s earnings report slated for in March.
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 50% Sell. 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 100% Sell 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 -7.61% and -14.77% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 40.92, while 7-day volatility ratio is 7.37% and 6.68% in the 30-day chart. Further, Nano X Imaging Ltd (NNOX) has a beta value of 1.98, and an average true range (ATR) of 0.56. 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 -181.25% off current price level while to achieve the yearly target high, price needs to move -181.25%. Nonetheless, investors will most likely welcome a -181.25% 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 3.81 million over the past 3 months. The company’s latest data on shares outstanding shows there are 58.52 million shares.
The 9.27% of Nano X Imaging Ltd’s shares are in the hands of company insiders while institutional holders own 23.47% of the company’s shares. Current price change has pushed the stock -11.11% 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.
