Nexalin Technology (NASDAQ:NXL) Issues Quarterly Earnings Results, Misses Estimates By $0.52 EPS

Nexalin Technology (NASDAQ:NXL) released its earnings results on Thursday. The company reported ($3.43) earnings per share for the quarter, missing the consensus estimate of ($2.91) by ($0.52), FiscalAI reports. The business had revenue of $0.08 million for the quarter, compared to analysts’ expectations of $0.07 million. Nexalin Technology had a negative return on equity of 278.24% and a negative net margin of 4,141.94%.

Nexalin Technology Trading Up 2.3%

NASDAQ:NXL traded up $0.04 on Friday, hitting $1.52. 13,163 shares of the stock were exchanged, compared to its average volume of 314,834. The stock has a fifty day moving average of $3.42 and a 200-day moving average of $10.18. The stock has a market cap of $1.11 million, a PE ratio of -0.11 and a beta of 4.31. Nexalin Technology has a fifty-two week low of $1.31 and a fifty-two week high of $35.53.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NXL. Zacks Research raised shares of Nexalin Technology to a “hold” rating in a research report on Thursday, October 1st. Weiss Ratings downgraded shares of Nexalin Technology from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, September 25th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce”.

Nexalin Technology Company Profile

Nexalin Technology, Inc. (NASDAQ:NXL) is a medical technology company focused on developing and commercializing noninvasive neurostimulation devices for mental health and neurological applications. Its technology is designed to deliver low-intensity electrical stimulation to the brain with the goal of influencing neural activity associated with conditions such as depression, anxiety, insomnia, post-traumatic stress disorder and substance-use disorders. The company’s product portfolio includes the Gen-2 and Gen-3 neurostimulation systems.