What's Going With Nano X Imaging Stock On Thursday?

Nano X Imaging Ltd NNOX shares are trading higher after Nvidia Corp NVDA, in its 13F filing, disclosed a modest stake in the company.

Nanox says it is focused on applying its proprietary medical imaging technology and solutions to make diagnostic medicine more accessible and affordable.

As per the SEC filing, Nvidia’s stake in Nano X Imaging with 59,632 shares was valued at $379,856.

The shares are trading higher on a heavy session volume of 4.460 million, compared to the average volume of 819.237K, as per data from Benzinga Pro.

Tuesday, the FDA granted 510(k) clearance to NanoX’s HealthFLD, an artificial intelligence software that provides automated qualitative and quantitative analysis of liver attenuation from routine contrast and non-contrast chest and abdomen CT scans in patients aged between 18 and 75. 

HealthFLD is intended to support clinicians in detecting fatty liver, correlated with hepatic steatosis, an early sign of metabolic dysfunction-associated steatotic liver disease, formerly referred to as non-alcoholic fatty liver disease.

NNOX Stock Prediction 2024

Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.

Shares of Nano X Imaging have an average 1-year price target of $20.0, representing an expected upside of 90.84%.

Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on Nano X Imaging, while 3 analysts have bullish ratings. The street high price target from Cantor Fitzgerald is $24.0, while the street low from Cantor Fitzgerald is $18.0.

Price Action: NNOX shares are up 61.0% at $10.26 on the last check Thursday.