NNOX - Wall Street Thinks This Growth Stock Could Blast Off by 358% but Should You Buy It Today?
2023-04-24 09:30:00 ET
Nano-X Imaging (NASDAQ: NNOX) stock may be down 13% so far this year, but some see a much brighter future for the maker of digital x-ray equipment. Wall Street analysts are estimating that the stock will surge by an incredible 358% this year. For an unprofitable company, that could be a bit hard to believe, but it isn't entirely impossible.
Still, this stock might not be a great purchase for every investor despite Wall Street's bubbly estimates. Let's investigate what's going on with Nano-X so you can gauge whether this could be a good pick for you.
Nano-X's claim to fame and its sole claim to having a competitive advantage is its x-ray device, the NanoX.ARC. It's special because it uses a digital x-ray source that's allegedly cheaper to use, less expensive to maintain, smaller, and easier to use than traditional analog ray sources.
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Wall Street Thinks This Growth Stock Could Blast Off by 358%, but Should You Buy It Today?