Nexus Advanced Technologies (NASDAQ:NXAT) Stock Price Up 5.5% – Time to Buy?

Shares of Nexus Advanced Technologies Inc. (NASDAQ:NXAT) traded up 5.5% on Thursday. The stock traded as high as $1.63 and last traded at $1.6350. Approximately 237,707 shares changed hands during trading, a decline of 8% from the average session volume of 257,020 shares. The stock had previously closed at $1.55.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Nexus Advanced Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Nexus Advanced Technologies Stock Up 3.6%

The company’s 50 day moving average price is $1.78 and its 200 day moving average price is $6.08.

Institutional Trading of Nexus Advanced Technologies

A hedge fund recently bought a new position in Nexus Advanced Technologies stock. Citadel Advisors LLC bought a new stake in Nexus Advanced Technologies Inc. (NASDAQ:NXAT) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 177,235 shares of the company’s stock, valued at approximately $26,000. Citadel Advisors LLC owned 6.54% of Nexus Advanced Technologies at the end of the most recent quarter. 62.18% of the stock is currently owned by hedge funds and other institutional investors.

Nexus Advanced Technologies Company Profile

Nexus Advanced Technologies Inc is a company pursuing strategic investments, acquisitions and partnerships across AI infrastructure and advanced technologies. Nexus Advanced Technologies Inc, formerly known as K Wave Media Ltd., is based in NEW YORK.