Nano-X Imaging (NASDAQ:NNOX) Sees Large Volume Increase – Here’s What Happened

Shares of Nano-X Imaging Ltd. (NASDAQ:NNOX) saw unusually-high trading volume on Thursday . Approximately 4,245,071 shares were traded during trading, an increase of 111% from the previous session’s volume of 2,012,700 shares.The stock last traded at $8.75 and had previously closed at $7.20.

Analysts Set New Price Targets

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

Nano-X Imaging Stock Up 28.5 %

The company has a market cap of $534.46 million, a P/E ratio of -10.88 and a beta of 2.02. The business has a fifty day simple moving average of $6.56 and a two-hundred day simple moving average of $6.77.

Institutional Investors Weigh In On Nano-X Imaging

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp raised its stake in shares of Nano-X Imaging by 2.1% in the third quarter. State Street Corp now owns 983,305 shares of the company’s stock worth $5,978,000 after buying an additional 20,279 shares during the period. Geode Capital Management LLC grew its position in shares of Nano-X Imaging by 2.2% during the third quarter. Geode Capital Management LLC now owns 677,853 shares of the company’s stock worth $4,121,000 after purchasing an additional 14,560 shares in the last quarter. ARK Investment Management LLC grew its position in shares of Nano-X Imaging by 5.2% during the third quarter. ARK Investment Management LLC now owns 252,633 shares of the company’s stock worth $1,536,000 after purchasing an additional 12,408 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Nano-X Imaging by 7.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 185,167 shares of the company’s stock worth $1,359,000 after purchasing an additional 13,085 shares in the last quarter. Finally, Tempus Wealth Planning LLC boosted its stake in Nano-X Imaging by 3.6% in the 3rd quarter. Tempus Wealth Planning LLC now owns 121,137 shares of the company’s stock worth $737,000 after purchasing an additional 4,230 shares during the period. 21.49% of the stock is currently owned by hedge funds and other 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.