Gaxos.ai (GXAI) Projected to Announce Earnings on Wednesday

Gaxos.ai (NASDAQ:GXAI) is expected to post its results before the market opens on Wednesday, August 12th. Analysts expect the company to post earnings of ($0.15) per share and revenue of $1.80 million for the quarter.

Gaxos.ai (NASDAQ:GXAI) last released its earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.05). Gaxos.ai had a negative return on equity of 34.42% and a negative net margin of 131.28%.The business had revenue of $1.81 million for the quarter, compared to analysts’ expectations of $1.60 million. On average, analysts expect Gaxos.ai to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Gaxos.ai Price Performance

GXAI opened at $0.91 on Wednesday. Gaxos.ai has a 1-year low of $0.73 and a 1-year high of $2.96. The firm has a market capitalization of $6.46 million, a price-to-earnings ratio of -1.44 and a beta of 0.94. The company’s 50 day simple moving average is $1.13 and its two-hundred day simple moving average is $1.23.

Gaxos.ai declared that its board has approved a share repurchase plan on Monday, August 3rd that allows the company to repurchase $1,000.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 18,726,591.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new position in shares of Gaxos.ai during the 2nd quarter worth about $48,000. Two Sigma Investments LP purchased a new position in Gaxos.ai in the third quarter valued at approximately $90,000. Finally, DRW Securities LLC acquired a new stake in Gaxos.ai during the fourth quarter worth approximately $213,000. Institutional investors and hedge funds own 42.62% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Gaxos.ai from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

About Gaxos.ai

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.