Last Updated: 10 Nov 2024
Executive Summary
Nano X Imaging Ltd. (NNOX) is a medical imaging company developing and commercializing digital X-ray source technology. Despite strong analyst support, the company faces challenges in profitability and revenue growth. The stock price of $6.1 is below its 52-week high and close to its 50-day moving average. Investors should carefully consider the company's fundamentals and market conditions before making investment decisions.
Company Overview
Nano X Imaging Ltd. is an Israeli company headquartered in Neve Ilan. It focuses on developing and producing digital X-ray sources for the medical imaging industry. The company's technology aims to improve image quality, reduce radiation exposure, and lower costs for healthcare providers.
Fundamental Analysis
Revenue: NNOX reported revenue of $10.13 million for the trailing twelve months (TTM), representing a 4.5% year-over-year growth.
Profitability: The company is yet to achieve profitability, with a TTM EBITDA of -$45.83 million and a TTM net loss of -$10.2 million.
Valuation: NNOX has a market capitalization of $356.83 million, a price-to-sales ratio of 35.23, and a price-to-book ratio of 2.038.
Balance Sheet: The company has a book value of $2.994 per share and no long-term debt.
Technical Analysis
Trend: The stock price is currently trading below its 52-week high and close to its 50-day moving average, indicating a downtrend.
Support and Resistance: Key support levels are at $5.26 (52-week low) and $6.04 (50-day moving average). Resistance levels are at $7.88 (200-day moving average) and $14.28 (52-week high).
Momentum: The relative strength index (RSI) is below 50, indicating a lack of momentum.
Short Term Outlook
In the short term, NNOX faces challenges in maintaining its revenue growth and improving profitability. The stock price could remain volatile and trade within the support and resistance levels mentioned above. Investors should monitor the company's financial performance and market conditions closely.
Long Term Outlook
The long-term outlook for NNOX depends on its ability to execute its growth strategy, achieve profitability, and gain market share. The company's digital X-ray technology has the potential to disrupt the medical imaging industry, but it faces competition from established players. Investors should consider the company's long-term prospects and risk tolerance before making investment decisions.
Analyst Recommendations
Analysts have a mixed outlook on NNOX. One analyst has a "Strong Buy" rating with a target price of $13.33, while two analysts have "Buy" ratings. No analysts currently have "Hold," "Sell," or "Strong Sell" ratings. The consensus analyst target price is $13.33, representing a potential upside of over 100% from the current price.
