Nexalin Technology (NASDAQ:NXL) Issues Earnings Results

Nexalin Technology (NASDAQ:NXL) released its quarterly earnings results on Wednesday. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01), FiscalAI reports. Nexalin Technology had a negative return on equity of 207.46% and a negative net margin of 5,527.39%.The firm had revenue of $0.17 million for the quarter, compared to analysts’ expectations of $0.08 million.

Nexalin Technology Price Performance

Shares of NXL traded down $0.00 during mid-day trading on Wednesday, reaching $0.41. The company’s stock had a trading volume of 58,214 shares, compared to its average volume of 323,469. Nexalin Technology has a 12-month low of $0.36 and a 12-month high of $2.31. The stock has a market cap of $7.55 million, a PE ratio of -0.61 and a beta of 4.05. The company’s 50 day moving average is $0.51 and its 200 day moving average is $0.85.

Hedge Funds Weigh In On Nexalin Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NXL. Geode Capital Management LLC increased its position in shares of Nexalin Technology by 23.4% during the fourth quarter. Geode Capital Management LLC now owns 150,274 shares of the company’s stock worth $84,000 after purchasing an additional 28,454 shares in the last quarter. Susquehanna International Group LLP purchased a new position in Nexalin Technology during the 3rd quarter worth approximately $57,000. Renaissance Technologies LLC grew its stake in Nexalin Technology by 119.2% during 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 last quarter. Finally, PEAK6 LLC acquired a new position in Nexalin Technology during the fourth quarter worth approximately $266,000. 0.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.