Nexalin Technology (NASDAQ:NXL) Trading Down 1.6% – Should You Sell?

Nexalin Technology, Inc. (NASDAQ:NXL) shares dropped 1.6% during trading on Friday . The company traded as low as $0.80 and last traded at $0.84. Approximately 149,049 shares were traded during trading, a decline of 95% from the average daily volume of 2,852,204 shares. The stock had previously closed at $0.85.

Nexalin Technology Price Performance

The stock has a market cap of $14.56 million, a P/E ratio of -1.10 and a beta of 3.68. The business’s 50 day simple moving average is $0.96 and its 200 day simple moving average is $1.46.

Nexalin Technology (NASDAQ:NXL) last posted its earnings results on Wednesday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. Nexalin Technology had a negative net margin of 5,057.14% and a negative return on equity of 209.20%. The company had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.04 million.

Institutional Trading of Nexalin Technology

A hedge fund recently bought a new stake in Nexalin Technology stock. Jane Street Group LLC bought a new position in shares of Nexalin Technology, Inc. (NASDAQ:NXL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,304 shares of the company’s stock, valued at approximately $28,000. Jane Street Group LLC owned 0.08% of Nexalin Technology as of its most recent filing with the Securities and Exchange Commission. 0.65% of the stock is owned by institutional investors and hedge funds.

About Nexalin Technology

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.