Nexalin Technology (NASDAQ:NXL) Releases Earnings Results, Misses Estimates By $0.01 EPS

Nexalin Technology (NASDAQ:NXL) announced its earnings results on Wednesday. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01), FiscalAI reports. Nexalin Technology had a negative net margin of 5,527.39% and a negative return on equity of 207.46%. The business had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.08 million.

Nexalin Technology Price Performance

Shares of NXL stock traded down $0.00 during midday trading on Wednesday, hitting $0.41. The company had a trading volume of 58,214 shares, compared to its average volume of 323,469. The company’s 50 day simple moving average is $0.51 and its 200 day simple moving average is $0.85. Nexalin Technology has a 52-week low of $0.36 and a 52-week high of $2.31. The stock has a market cap of $7.55 million, a price-to-earnings ratio of -0.61 and a beta of 4.05.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Nexalin Technology in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Nexalin Technology

Hedge funds have recently modified their holdings of the stock. Susquehanna International Group LLP purchased a new stake in shares of Nexalin Technology during the 3rd quarter worth approximately $57,000. Renaissance Technologies LLC raised its holdings in Nexalin Technology by 119.2% during the fourth quarter. Renaissance Technologies LLC now owns 122,100 shares of the company’s stock worth $68,000 after purchasing an additional 66,400 shares during the last quarter. Geode Capital Management LLC raised its holdings in Nexalin Technology by 23.4% during the fourth quarter. Geode Capital Management LLC now owns 150,274 shares of the company’s stock worth $84,000 after purchasing an additional 28,454 shares during the last quarter. Finally, PEAK6 LLC purchased a new stake in Nexalin Technology during the fourth quarter worth $266,000. 0.65% of the stock is owned by institutional investors and hedge funds.

About Nexalin Technology

Nexalin Technology, Inc is a U.S.-based medical device company specializing in noninvasive neuromodulation therapies for mental health conditions. The company develops and markets the Nexalin® medical device platform, which delivers proprietary alternating current waveforms to targeted areas of the brain through forehead-mounted electrodes. Its technology is designed to modulate neural activity without pharmaceuticals, positioning the company within the growing field of digital therapeutics and neurostimulation.

The Nexalin device has received U.S.