Nexalin Technology (NASDAQ:NXL) Trading 1% Higher – Time to Buy?

Nexalin Technology, Inc. (NASDAQ:NXL)’s stock price traded up 1% during trading on Thursday . The company traded as high as $0.65 and last traded at $0.63. 53,433 shares traded hands during trading, a decline of 66% from the average session volume of 157,195 shares. The stock had previously closed at $0.6238.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NXL shares. Wall Street Zen downgraded Nexalin Technology from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nexalin Technology in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.00.

Nexalin Technology Stock Performance

The company has a 50 day moving average of $0.83 and a 200 day moving average of $0.99. The stock has a market capitalization of $11.75 million, a price-to-earnings ratio of -0.95 and a beta of 3.94.

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

Institutional Trading of Nexalin Technology

An institutional investor recently bought a new position in Nexalin Technology stock. Susquehanna International Group LLP acquired a new position in shares of Nexalin Technology, Inc. (NASDAQ:NXL) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 62,498 shares of the company’s stock, valued at approximately $57,000. Susquehanna International Group LLP owned approximately 0.35% of Nexalin Technology as of its most recent filing with the SEC. 0.65% of the stock is owned by institutional investors and hedge funds.

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.