Investors Purchase High Volume of Nano-X Imaging Call Options (NASDAQ:NNOX)

Nano-X Imaging Ltd. (NASDAQ:NNOX) was the target of some unusual options trading on Thursday. Investors purchased 11,308 call options on the company. This is an increase of approximately 257% compared to the average volume of 3,171 call options.

Nano-X Imaging Trading Up 23.2 %

Shares of NNOX stock opened at $8.87 on Friday. The firm’s fifty day moving average price is $6.56 and its two-hundred day moving average price is $6.77. Nano-X Imaging has a 1 year low of $5.26 and a 1 year high of $14.28. The firm has a market capitalization of $512.50 million, a P/E ratio of -10.44 and a beta of 2.02.

Institutional Trading of Nano-X Imaging

A number of hedge funds and other institutional investors have recently modified their holdings of NNOX. Bank of New York Mellon Corp raised its position in Nano-X Imaging by 7.6% during the second quarter. Bank of New York Mellon Corp now owns 185,167 shares of the company’s stock worth $1,359,000 after acquiring an additional 13,085 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Nano-X Imaging by 14.1% in the 2nd quarter. Van ECK Associates Corp now owns 22,293 shares of the company’s stock valued at $164,000 after purchasing an additional 2,755 shares during the period. Rhumbline Advisers lifted its stake in Nano-X Imaging by 3.9% in the 2nd quarter. Rhumbline Advisers now owns 75,920 shares of the company’s stock valued at $557,000 after purchasing an additional 2,818 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Nano-X Imaging by 14.8% during the second quarter. The Manufacturers Life Insurance Company now owns 20,210 shares of the company’s stock worth $148,000 after purchasing an additional 2,600 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Nano-X Imaging during the third quarter worth approximately $124,000. Institutional investors and hedge funds own 21.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald upped 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.

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.