Gaxos.ai (NASDAQ:GXAI) Posts Earnings Results

Gaxos.ai (NASDAQ:GXAI) issued its quarterly earnings data on Tuesday. The company reported ($0.13) earnings per share for the quarter, FiscalAI reports. Gaxos.ai had a negative return on equity of 25.08% and a negative net margin of 549.60%.The company had revenue of $1.24 million for the quarter.

Gaxos.ai Price Performance

NASDAQ GXAI traded down $0.04 during trading hours on Tuesday, reaching $1.36. The company’s stock had a trading volume of 668,810 shares, compared to its average volume of 13,804,511. The firm has a market capitalization of $9.68 million, a price-to-earnings ratio of -3.24 and a beta of 1.17. The company’s 50-day moving average is $1.29 and its two-hundred day moving average is $1.40. Gaxos.ai has a 1-year low of $1.00 and a 1-year high of $2.96.

Institutional Trading of Gaxos.ai

Institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd acquired a new position in shares of Gaxos.ai during the 2nd quarter worth approximately $48,000. Two Sigma Investments LP acquired a new stake in Gaxos.ai in the 3rd quarter valued at $90,000. Finally, DRW Securities LLC purchased a new stake in Gaxos.ai in the 4th quarter worth $213,000. 42.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on GXAI. Weiss Ratings reiterated a “sell (d-)” rating on shares of Gaxos.ai in a report on Monday, December 22nd. Wall Street Zen cut shares of Gaxos.ai to a “strong sell” rating in a report on Saturday, March 7th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Gaxos.ai Company Profile

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.