Nexalin Technology, Inc. (NASDAQ:NXL) VP Buys $13,200.00 in Stock

Nexalin Technology, Inc. (NASDAQ:NXL) VP Carolyn Hamby Shelton purchased 6,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was acquired at an average cost of $2.20 per share, for a total transaction of $13,200.00. Following the acquisition, the vice president now owns 30,000 shares in the company, valued at approximately $66,000. This represents a 25.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through this link.

Nexalin Technology Stock Performance

Shares of Nexalin Technology stock traded down $0.30 during trading hours on Thursday, hitting $1.95. The company’s stock had a trading volume of 161,278 shares, compared to its average volume of 1,354,306. The business has a 50 day moving average price of $2.90 and a two-hundred day moving average price of $2.47. Nexalin Technology, Inc. has a 12-month low of $0.35 and a 12-month high of $4.49. The company has a market cap of $25.94 million, a PE ratio of -3.05 and a beta of 4.33.

Institutional Investors Weigh In On Nexalin Technology

Hedge funds have recently made changes to their positions in the company. Kingsview Wealth Management LLC purchased a new stake in shares of Nexalin Technology in the fourth quarter worth about $28,000. Drive Wealth Management LLC purchased a new stake in shares of Nexalin Technology in the fourth quarter worth about $55,000. Jane Street Group LLC purchased a new stake in shares of Nexalin Technology in the fourth quarter worth about $28,000. Northern Trust Corp purchased a new stake in Nexalin Technology during the fourth quarter valued at approximately $36,000. Finally, Geode Capital Management LLC raised its position in Nexalin Technology by 36.3% during the fourth quarter. Geode Capital Management LLC now owns 107,241 shares of the company’s stock valued at $296,000 after purchasing an additional 28,544 shares during the period. 0.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Maxim Group reiterated a “hold” rating on shares of Nexalin Technology in a research note on Thursday, December 5th.

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.