Nexalin Technology (NASDAQ:NXL) Releases Earnings Results

Nexalin Technology (NASDAQ:NXL) posted its quarterly earnings data on Friday. The company reported ($0.23) earnings per share (EPS) for the quarter, reports. Nexalin Technology had a negative net margin of 3,578.81% and a negative return on equity of 213.51%. The firm had revenue of $0.04 million during the quarter.

Nexalin Technology Trading Up 11.8 %

Shares of NASDAQ NXL opened at $3.80 on Friday. Nexalin Technology has a 12-month low of $0.25 and a 12-month high of $4.05. The stock has a market cap of $40.24 million, a P/E ratio of -5.28 and a beta of 3.50. The business’s fifty day simple moving average is $1.29 and its 200-day simple moving average is $1.24.

Institutional Trading of Nexalin Technology

A hedge fund recently bought a new stake in Nexalin Technology stock. CVI Holdings LLC acquired a new stake in Nexalin Technology, Inc. (NASDAQ:NXL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 55,462 shares of the company’s stock, valued at approximately $94,000. CVI Holdings LLC owned about 0.52% of Nexalin Technology as of its most recent filing with the Securities and Exchange Commission. 0.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Maxim Group began coverage on shares of Nexalin Technology in a research note on Wednesday, October 9th. They issued a “buy” rating and a $3.00 price objective for the company.

Nexalin Technology Company Profile

Nexalin Technology, Inc, a medical device company, designs and develops neurostimulation products for the treatment of mental health in the United States and China. The company designs and develops Generation 2 and Generation 3, that is in clinical trials for the treatment of substance abuse issues related to opiate, cocaine, alcohol abuse, alzheimer's disease, and dementia.