Nexalin Technology (NASDAQ:NXL) Trading Up 1% – What’s Next?

Nexalin Technology, Inc. (NASDAQ:NXL) rose 1% on Thursday . The stock traded as high as $0.65 and last traded at $0.63. Approximately 53,433 shares traded hands during trading, a decline of 66% from the average daily volume of 157,195 shares. The stock had previously closed at $0.6238.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NXL. Wall Street Zen downgraded Nexalin Technology from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Nexalin Technology in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.00.

Nexalin Technology Trading Up 1.0%

The stock has a market cap of $11.75 million, a PE ratio of -0.95 and a beta of 3.94. The business has a 50 day moving average of $0.83 and a 200-day moving average of $0.99.

Nexalin Technology (NASDAQ:NXL) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The firm had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.04 million. Nexalin Technology had a negative net margin of 5,527.39% and a negative return on equity of 207.46%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Nexalin Technology stock. Susquehanna International Group LLP acquired a new stake in Nexalin Technology, Inc. (NASDAQ:NXL) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 62,498 shares of the company’s stock, valued at approximately $57,000. Susquehanna International Group LLP owned 0.35% of Nexalin Technology as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 0.65% of the company’s stock.

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.