Nexalin Technology (NASDAQ:NXL) Releases Quarterly Earnings Results

Nexalin Technology (NASDAQ:NXL) announced its earnings results on Friday. The company reported ($0.23) EPS for the quarter, reports. The business had revenue of $0.04 million during the quarter. Nexalin Technology had a negative net margin of 3,578.81% and a negative return on equity of 213.51%.

Nexalin Technology Trading Up 11.8 %

Nexalin Technology stock opened at $3.80 on Friday. The stock has a 50 day moving average of $1.29 and a two-hundred day moving average of $1.24. Nexalin Technology has a twelve month low of $0.25 and a twelve month high of $4.05. The stock has a market capitalization of $40.24 million, a price-to-earnings ratio of -5.28 and a beta of 3.50.

Analysts Set New Price Targets

Separately, Maxim Group began coverage on shares of Nexalin Technology in a research note on Wednesday, October 9th. They issued a “buy” rating and a $3.00 price objective on the stock.

Hedge Funds Weigh In On Nexalin Technology

A hedge fund recently bought a new stake in Nexalin Technology stock. CVI Holdings LLC purchased a new stake in Nexalin Technology, Inc. (NASDAQ:NXL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 55,462 shares of the company’s stock, valued at approximately $94,000. CVI Holdings LLC owned approximately 0.52% of Nexalin Technology at the end of the most recent reporting period. Institutional investors own 0.65% of the company’s stock.

About Nexalin Technology

Nexalin Technology, Inc, a medical device company, designs and develops neurostimulation products for the treatment of mental health in the United States and China. The company designs and develops Generation 2 and Generation 3, that is in clinical trials for the treatment of substance abuse issues related to opiate, cocaine, alcohol abuse, alzheimer's disease, and dementia.