Gaxos.ai (NASDAQ:GXAI) Trading Down 1.9% – Here’s Why

Gaxos.ai Inc. (NASDAQ:GXAI) traded down 1.9% on Monday . The company traded as low as $1.04 and last traded at $1.06. Approximately 268,241 shares changed hands during mid-day trading, a decline of 9% from the average session volume of 293,902 shares. The stock had previously closed at $1.08.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Gaxos.ai from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Gaxos.ai Price Performance

The firm has a market capitalization of $7.62 million, a PE ratio of -1.70 and a beta of 0.83. The stock has a 50-day moving average price of $1.18 and a 200-day moving average price of $1.25.

Gaxos.ai (NASDAQ:GXAI) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.05). Gaxos.ai had a negative net margin of 131.28% and a negative return on equity of 34.42%. The business had revenue of $1.81 million during the quarter, compared to analysts’ expectations of $1.60 million. As a group, equities research analysts predict that Gaxos.ai Inc. will post -0.64 earnings per share for the current fiscal year.

Institutional Trading of Gaxos.ai

A number of hedge funds and other institutional investors have recently made changes to their positions in GXAI. DRW Securities LLC acquired a new stake in Gaxos.ai in the fourth quarter valued at $213,000. Two Sigma Investments LP acquired a new position in Gaxos.ai during the 3rd quarter worth $90,000. Finally, XTX Topco Ltd acquired a new position in Gaxos.ai during the 2nd quarter worth $48,000. Institutional investors own 42.62% of the company’s stock.

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.