Gaxos.ai (NASDAQ:GXAI) Posts Earnings Results, Beats Expectations By $0.03 EPS

Gaxos.ai (NASDAQ:GXAI) issued its quarterly earnings data on Tuesday. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03, FiscalAI reports. Gaxos.ai had a negative return on equity of 26.66% and a negative net margin of 203.88%.The company had revenue of $1.24 million for the quarter.

Gaxos.ai Trading Up 13.2%

Shares of Gaxos.ai stock opened at $1.54 on Thursday. The firm’s 50 day simple moving average is $1.30 and its two-hundred day simple moving average is $1.40. The firm has a market capitalization of $10.96 million, a price-to-earnings ratio of -2.80 and a beta of 1.17. Gaxos.ai has a 12-month low of $1.00 and a 12-month high of $2.96.

Institutional Investors Weigh In On Gaxos.ai

A number of large investors have recently made changes to their positions in GXAI. DRW Securities LLC purchased a new position in Gaxos.ai in the 4th quarter worth $213,000. Two Sigma Investments LP acquired a new stake in Gaxos.ai during the 3rd quarter worth about $90,000. Finally, XTX Topco Ltd purchased a new stake in Gaxos.ai during the 2nd quarter valued at about $48,000. 42.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wall Street Zen downgraded shares of Gaxos.ai to a “strong sell” rating in a report on Saturday, March 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Gaxos.ai in a report on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Gaxos.ai currently has an average rating of “Sell”.

About Gaxos.ai

Gaxos.ai Inc engages in developing artificial intelligence applications for various sectors. Its portfolio includes applications in mental and physical wellbeing, coaching, and gaming. In addition, it offers Gaxos, a gaming platform develop, design, acquire, and manage conventional games and combine these games with unconventional game mechanisms. The company was formerly known as The NFT Gaming Company, Inc and changed its name to Gaxos.ai Inc in January 2024. Gaxos.ai Inc was incorporated in 2021 and is based in Roseland, New Jersey.