Nexalin Technology (NASDAQ:NXL – Get Free Report) released its quarterly earnings results on Friday. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01), FiscalAI reports. Nexalin Technology had a negative return on equity of 195.69% and a negative net margin of 2,722.19%.The firm had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.02 million.
Nexalin Technology Trading Up 2.4%
NXL stock opened at $0.35 on Friday. Nexalin Technology has a 12 month low of $0.33 and a 12 month high of $2.00. The company has a 50-day moving average price of $0.41 and a 200 day moving average price of $0.71. The stock has a market cap of $7.25 million, a PE ratio of -0.75 and a beta of 3.56.
Hedge Funds Weigh In On Nexalin Technology
A number of large investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in 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 buying an additional 28,454 shares in the last quarter. Susquehanna International Group LLP bought a new stake in Nexalin Technology during the 3rd quarter valued at about $57,000. Renaissance Technologies LLC lifted its holdings 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. Finally, PEAK6 LLC bought a new stake in Nexalin Technology during the 4th quarter valued at about $266,000. 0.65% of the stock is owned by hedge funds and other institutional investors.
About Nexalin Technology
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.
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