Nano-X Imaging (NASDAQ:NNOX) Shares Up 8% – Time to Buy?

Nano-X Imaging Ltd. (NASDAQ:NNOX) rose 8% on Friday . The stock traded as high as $9.68 and last traded at $9.58. 1,704,788 shares traded hands during trading, a decline of 75% from the average session volume of 6,702,053 shares. The stock had previously closed at $8.87.

Analysts Set New Price Targets

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

Nano-X Imaging Stock Up 1.7 %

The firm has a market cap of $521.17 million, a P/E ratio of -10.61 and a beta of 2.02. The company’s 50 day simple moving average is $6.62 and its 200-day simple moving average is $6.78.

Institutional Inflows and Outflows

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

About Nano-X Imaging

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.