Nexalin Technology (NASDAQ:NXL) Shares Down 10.9% – Time to Sell?

Nexalin Technology, Inc. (NASDAQ:NXL)’s share price fell 10.9% on Monday . The stock traded as low as $0.8101 and last traded at $0.82. 375,300 shares changed hands during trading, an increase of 267% from the average session volume of 102,233 shares. The stock had previously closed at $0.92.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NXL. Wall Street Zen cut shares of Nexalin Technology from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Nexalin Technology in a research report on Monday, December 1st. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.00.

Nexalin Technology Stock Down 10.9%

The firm has a fifty day moving average of $1.23 and a 200 day moving average of $1.08. The stock has a market cap of $15.29 million, a PE ratio of -1.24 and a beta of 3.76.

Nexalin Technology (NASDAQ:NXL) last announced its quarterly earnings results on Friday, November 14th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). Nexalin Technology had a negative net margin of 5,527.39% and a negative return on equity of 207.46%. The company had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.04 million.

Institutional Investors Weigh In On Nexalin Technology

An institutional investor recently bought a new position in Nexalin Technology stock. Susquehanna International Group LLP bought a new stake in Nexalin Technology, Inc. (NASDAQ:NXL) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 62,498 shares of the company’s stock, valued at approximately $57,000. Susquehanna International Group LLP owned about 0.35% of Nexalin Technology at the end of the most recent quarter. Institutional investors own 0.65% of the company’s stock.

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.