Nano-X stake received by Nvidia as part of 2021 deal, says Cantor Fitzgerald

Cantor Fitzgerald tells investors in a research note that shares of Nano-X (NNOX) are up ahead of the market open after Nvidia (NVDA) disclosed an investment in the company of 59,362 shares, totaling roughly $380,000. The firm notes that Nano-X acquired Zebra Medical in November 2021, which was funded by several companies including Nvidia. The firm keeps an Overweight rating on Nano-X, saying it believes the Nanox.ARC System is a disruptive technology that will be adopted quickly, particularly in developing countries and that the company’s business model of a per-study basis rather than a capital sale is attractive, with committed contracts serving partially to de-risk the story. The current valuation represents an attractive entry point, the analyst tells investors in a research note.