Nexalin Technology (NASDAQ:NXL) Announces Quarterly Earnings Results

Nexalin Technology (NASDAQ:NXL) released its quarterly earnings data on Wednesday. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01), FiscalAI reports. Nexalin Technology had a negative return on equity of 188.90% and a negative net margin of 2,722.19%.The firm had revenue of $0.17 million for the quarter, compared to analysts’ expectations of $0.08 million.

Nexalin Technology Stock Performance

NXL traded down $0.01 during trading on Friday, hitting $0.37. The stock had a trading volume of 10,252 shares, compared to its average volume of 314,223. The company has a market capitalization of $6.84 million, a PE ratio of -0.72 and a beta of 4.05. Nexalin Technology has a twelve month low of $0.36 and a twelve month high of $2.31. The stock has a 50 day simple moving average of $0.50 and a two-hundred day simple moving average of $0.84.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Nexalin Technology in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Trading of Nexalin Technology

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

Nexalin Technology Company Profile

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.