Nexalin Technology (NASDAQ:NXL) Stock Price Up 5.5% – Should You Buy?

Posted by Darlene League on Dec 28th, 2024

Nexalin Technology, Inc. (NASDAQ:NXL – Get Free Report)’s stock price shot up 5.5% during mid-day trading on Thursday . The company traded as high as $2.88 and last traded at $2.88. 301,249 shares were traded during trading, a decline of 78% from the average session volume of 1,371,382 shares. The stock had previously closed at $2.73.

Analyst Upgrades and Downgrades

Separately, Maxim Group reissued a “hold” rating on shares of Nexalin Technology in a report on Thursday, December 5th.

Get Our Latest Analysis on Nexalin Technology

Nexalin Technology Stock Performance

The company has a market capitalization of $39.25 million, a PE ratio of -4.61 and a beta of 3.78. The stock has a fifty day moving average of $3.36 and a 200 day moving average of $1.87.

Nexalin Technology (NASDAQ:NXL – Get Free Report) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.23) earnings per share for the quarter. The firm had revenue of $0.04 million for the quarter. Nexalin Technology had a negative net margin of 3,407.98% and a negative return on equity of 187.59%.

Hedge Funds Weigh In On Nexalin Technology

An institutional investor recently bought a new position in Nexalin Technology stock. CVI Holdings LLC bought a new stake in shares of Nexalin Technology, Inc. (NASDAQ:NXL – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 55,462 shares of the company’s stock, valued at approximately $94,000. CVI Holdings LLC owned 0.52% of Nexalin Technology at the end of the most recent quarter. 0.65% of the stock is currently owned by institutional investors and hedge funds.

About Nexalin Technology

(Get Free Report)

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.