Nexalin Technology (NASDAQ:NXL) Issues Earnings Results

Nexalin Technology (NASDAQ:NXL) issued its quarterly earnings results on Wednesday. The company reported ($0.11) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $0.01 million during the quarter. Nexalin Technology had a negative net margin of 3,018.12% and a negative return on equity of 191.88%.

Nexalin Technology Stock Performance

NASDAQ:NXL traded down $0.00 during mid-day trading on Wednesday, hitting $0.36. The stock had a trading volume of 42,151 shares, compared to its average volume of 515,536. Nexalin Technology has a twelve month low of $0.30 and a twelve month high of $2.00. The stock has a market cap of $7.82 million, a price-to-earnings ratio of -0.76 and a beta of 4.00. The company’s 50 day simple moving average is $0.41 and its 200 day simple moving average is $0.43.

Institutional Trading of Nexalin Technology

Hedge funds have recently made changes to their positions in the business. Susquehanna International Group LLP bought a new position in shares of Nexalin Technology during the 3rd quarter worth approximately $57,000. Renaissance Technologies LLC raised its stake in Nexalin Technology by 119.2% in the 4th quarter. Renaissance Technologies LLC now owns 122,100 shares of the company’s stock valued at $68,000 after acquiring an additional 66,400 shares during the period. Geode Capital Management LLC lifted its holdings in Nexalin Technology by 23.4% during the 4th quarter. Geode Capital Management LLC now owns 150,274 shares of the company’s stock valued at $84,000 after purchasing an additional 28,454 shares during the last quarter. Finally, PEAK6 LLC acquired a new stake in Nexalin Technology during the 4th quarter valued at $266,000. 0.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Nexalin Technology in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

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.