The trading price of Nano X Imaging Ltd (NASDAQ:NNOX) closed lower on Monday, March 11, closing at $9.38, -8.13% lower than its previous close.
In examining the 52-week price action we see that the stock hit a 52-week high of $22.69 and a 52-week low of $4.89. Over the past month, the stock has gained 63.41% in value.
Nano X Imaging Ltd, whose market valuation is $537.38 million at the time of this writing, is expected to release its quarterly earnings report May 20, 2024 – May 24, 2024. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.3 per share this quarter, however they have predicted annual earnings per share of -$1.21 for 2023 and -$1.02 for 2024. It means analysts are expecting annual earnings per share growth of 39.80% this year and 15.70% next year.
Analysts have forecast the company to bring in revenue of $2.82 million for the current quarter, with the likely lows of $2.1 million and highs of $3.57 million. The average estimate suggests sales will likely up by 32.30% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2023 is $10.32 million. The company’s revenue is forecast to grow by 20.30% over what it did in 2023.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Nano X Imaging Ltd No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest NNOX has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 50% Buy.
A quick review shows that NNOX’s price is currently -2.03% off the SMA20 and 27.73% off the SMA50. The RSI metric on the 14-day chart is currently showing 51.76, and weekly volatility stands at 10.80%. When measured over the past 30 days, the indicator reaches 15.25%. Nano X Imaging Ltd (NASDAQ:NNOX)’s beta value is currently sitting at 2.18, while the Average True Range indicator is currently displaying 1.23.
To see how Nano X Imaging Ltd stock has been performing in comparison to its peers in the industry, here are the numbers: NNOX stock’s performance was -8.13% in the latest trading, and 43.64% in the past year.
An evaluation of the daily trading volume of Nano X Imaging Ltd (NASDAQ:NNOX) indicates that the 3-month average is 3.37 million. However, this figure has increased over the past 10 days to an average of 4.57 million.
Currently, records show that 55.09 million of the company’s shares remain outstanding. The insiders hold 10.97% of outstanding shares, whereas institutions hold 21.51%. The stats also highlight that short interest as of Feb 15, 2024, stood at 7.73 million shares, resulting in a short ratio of 2.66 at that time. From this, we can conclude that short interest is 13.38% of the company’s total outstanding shares. It is noteworthy that short shares in February were up slightly from the previous month’s figure, which was 7.4 million. However, since the stock’s price has seen 47.25% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
