Wall Street Zen Downgrades Gaxos.ai (NASDAQ:GXAI) to Strong Sell

Gaxos.ai (NASDAQ:GXAI) was downgraded by Wall Street Zen to a “strong sell” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Gaxos.ai in a research report on Monday, December 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Gaxos.ai Price Performance

NASDAQ:GXAI opened at $1.62 on Friday. Gaxos.ai has a fifty-two week low of $1.00 and a fifty-two week high of $2.96. The stock’s 50-day moving average is $1.25 and its two-hundred day moving average is $1.43. The stock has a market cap of $11.53 million, a PE ratio of -3.86 and a beta of 1.17.

Institutional Trading of Gaxos.ai

Several hedge funds and other institutional investors have recently modified their holdings of the company. DRW Securities LLC purchased a new position in Gaxos.ai in the fourth quarter valued at about $213,000. Two Sigma Investments LP purchased a new stake in shares of Gaxos.ai during the 3rd quarter worth about $90,000. Finally, XTX Topco Ltd raised its stake in shares of Gaxos.ai by 197.4% during the 4th quarter. XTX Topco Ltd now owns 44,811 shares of the company’s stock worth $48,000 after purchasing an additional 29,745 shares in the last quarter. 42.62% of the stock is currently owned by hedge funds and other institutional investors.

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.