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

Nexalin Technology (NASDAQ:NXL) released its quarterly earnings results on Wednesday. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01), FiscalAI reports. The company had revenue of $0.17 million during the quarter, compared to the consensus estimate of $0.08 million. Nexalin Technology had a negative net margin of 2,722.19% and a negative return on equity of 188.90%.

Nexalin Technology Stock Performance

Shares of NXL traded down $0.01 on Friday, reaching $0.37. The stock had a trading volume of 10,363 shares, compared to its average volume of 314,224. The firm has a market capitalization of $6.84 million, a price-to-earnings ratio of -0.72 and a beta of 4.05. The company has a 50-day simple moving average of $0.50 and a 200-day simple moving average of $0.84. Nexalin Technology has a 12-month low of $0.36 and a 12-month high of $2.31.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Nexalin Technology in a report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Nexalin Technology presently has an average rating of “Sell”.

Hedge Funds Weigh In On Nexalin Technology

Institutional investors have recently added to or reduced their stakes in the company. Susquehanna International Group LLP purchased a new position in Nexalin Technology during the third quarter valued at $57,000. Renaissance Technologies LLC boosted its holdings in shares of Nexalin Technology by 119.2% during the 4th quarter. Renaissance Technologies LLC now owns 122,100 shares of the company’s stock valued at $68,000 after buying an additional 66,400 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Nexalin Technology by 23.4% in the 4th quarter. Geode Capital Management LLC now owns 150,274 shares of the company’s stock worth $84,000 after buying an additional 28,454 shares during the period. Finally, PEAK6 LLC purchased a new stake in shares of Nexalin Technology in the 4th quarter worth about $266,000. 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.