Gaxos.ai (NASDAQ:GXAI) Stock Price Down 1.9% – Time to Sell?

Shares of Gaxos.ai Inc. (NASDAQ:GXAI) dropped 1.9% during mid-day trading on Monday . The stock traded as low as $1.02 and last traded at $1.04. Approximately 274,477 shares traded hands during trading, an increase of 261% from the average daily volume of 75,939 shares. The stock had previously closed at $1.06.

Analysts Set New Price Targets

Several brokerages have weighed in on GXAI. Wall Street Zen lowered Gaxos.ai from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Gaxos.ai in a research note on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Gaxos.ai Stock Down 1.9%

The company has a market cap of $7.40 million, a PE ratio of -2.48 and a beta of 1.03. The business’s fifty day moving average is $1.31 and its 200-day moving average is $1.44.

Gaxos.ai (NASDAQ:GXAI) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.14) earnings per share for the quarter. The business had revenue of $0.50 million during the quarter. Gaxos.ai had a negative return on equity of 25.08% and a negative net margin of 549.60%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Gaxos.ai stock. Two Sigma Investments LP bought a new stake in shares of Gaxos.ai Inc. (NASDAQ:GXAI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 56,745 shares of the company’s stock, valued at approximately $90,000. Two Sigma Investments LP owned 0.80% of Gaxos.ai at the end of the most recent quarter. 42.62% of the stock is currently owned by institutional investors.

About Gaxos.ai

Gaxos.ai Inc engages in developing artificial intelligence applications for various sectors. Its portfolio includes applications in mental and physical wellbeing, coaching, and gaming. In addition, it offers Gaxos, a gaming platform develop, design, acquire, and manage conventional games and combine these games with unconventional game mechanisms. The company was formerly known as The NFT Gaming Company, Inc and changed its name to Gaxos.ai Inc in January 2024. Gaxos.ai Inc was incorporated in 2021 and is based in Roseland, New Jersey.