Nexalin Technology (NASDAQ:NXL) Posts Earnings Results, Misses Expectations By $0.01 EPS

Nexalin Technology (NASDAQ:NXL) posted its earnings results on Wednesday. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01), FiscalAI reports. The firm had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.09 million. Nexalin Technology had a negative net margin of 4,141.94% and a negative return on equity of 236.49%.

Nexalin Technology Stock Performance

NASDAQ:NXL traded up $0.00 during mid-day trading on Friday, reaching $0.35. The stock had a trading volume of 58,576 shares, compared to its average volume of 509,625. Nexalin Technology has a twelve month low of $0.30 and a twelve month high of $2.00. The business has a 50 day simple moving average of $0.40 and a 200 day simple moving average of $0.43. The firm has a market capitalization of $7.75 million, a price-to-earnings ratio of -0.74 and a beta of 4.00.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nexalin Technology in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Susquehanna International Group LLP purchased a new stake in shares of Nexalin Technology during the 3rd quarter worth $57,000. Geode Capital Management LLC lifted its stake in shares of Nexalin Technology by 23.4% in the fourth quarter. Geode Capital Management LLC now owns 150,274 shares of the company’s stock valued at $84,000 after purchasing an additional 28,454 shares during the period. Renaissance Technologies LLC boosted its holdings in Nexalin Technology by 119.2% during the fourth quarter. Renaissance Technologies LLC now owns 122,100 shares of the company’s stock worth $68,000 after buying an additional 66,400 shares in the last quarter. Finally, PEAK6 LLC purchased a new stake in Nexalin Technology during the fourth quarter worth about $266,000. Hedge funds and other institutional investors own 0.65% of the company’s stock.

Nexalin Technology Company Profile

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.