Nexalin Technology (NASDAQ:NXL) Stock Price Up 0.6% – Here’s Why

Nexalin Technology, Inc. (NASDAQ:NXL) traded up 0.6% during trading on Monday . The stock traded as high as $0.4662 and last traded at $0.4662. 55,750 shares traded hands during trading, a decline of 95% from the average session volume of 1,013,997 shares. The stock had previously closed at $0.4633.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nexalin Technology in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Nexalin Technology presently has an average rating of “Sell”.

Nexalin Technology Price Performance

The company has a 50-day simple moving average of $0.43 and a 200-day simple moving average of $0.78. The firm has a market cap of $9.59 million, a PE ratio of -0.91 and a beta of 4.18.

Nexalin Technology (NASDAQ:NXL) last issued its quarterly earnings results on Wednesday, March 25th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). Nexalin Technology had a negative return on equity of 195.69% and a negative net margin of 2,722.19%.The business had revenue of $0.17 million during the quarter, compared to analysts’ expectations of $0.08 million.

Institutional Trading of Nexalin Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of NXL. Susquehanna International Group LLP purchased a new stake in shares of Nexalin Technology during the third quarter valued at $57,000. Renaissance Technologies LLC increased its stake in Nexalin Technology by 119.2% in the 4th quarter. Renaissance Technologies LLC now owns 122,100 shares of the company’s stock worth $68,000 after buying an additional 66,400 shares during the period. 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. Finally, PEAK6 LLC purchased a new stake in Nexalin Technology in the 4th quarter valued at about $266,000. Hedge funds and other institutional investors own 0.65% of the company’s stock.

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.