Nexalin Technology (NASDAQ:NXL) Issues Earnings Results, Misses Estimates By $0.01 EPS

Nexalin Technology (NASDAQ:NXL) announced its quarterly earnings results on Wednesday. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01), FiscalAI reports. Nexalin Technology had a negative net margin of 3,018.12% and a negative return on equity of 191.88%. The company had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.09 million.

Nexalin Technology Stock Down 1.3%

Shares of Nexalin Technology stock traded down $0.00 during trading on Thursday, hitting $0.35. 15,848 shares of the company were exchanged, compared to its average volume of 512,361. The firm has a 50 day moving average price of $0.40 and a 200 day moving average price of $0.43. The stock has a market capitalization of $7.73 million, a price-to-earnings ratio of -0.75 and a beta of 4.00. Nexalin Technology has a fifty-two week low of $0.30 and a fifty-two week high of $2.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NXL. PEAK6 LLC acquired a new position in Nexalin Technology during the second quarter valued at approximately $79,000. Renaissance Technologies LLC raised its stake in shares of Nexalin Technology by 119.2% in the 4th quarter. Renaissance Technologies LLC now owns 122,100 shares of the company’s stock valued at $68,000 after acquiring an additional 66,400 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Nexalin Technology by 23.4% during the 4th quarter. Geode Capital Management LLC now owns 150,274 shares of the company’s stock valued at $84,000 after acquiring an additional 28,454 shares in the last quarter. Finally, Susquehanna International Group LLP purchased a new stake in Nexalin Technology during the 3rd quarter worth $57,000. Institutional investors and hedge funds own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Nexalin Technology in a research report on Wednesday, July 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

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.