Gaxos.ai (NASDAQ:GXAI) Issues Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Gaxos.ai (NASDAQ:GXAI) issued its quarterly earnings data on Thursday. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.05), FiscalAI reports. The business had revenue of $1.81 million for the quarter, compared to analyst estimates of $1.60 million. Gaxos.ai had a negative return on equity of 27.61% and a negative net margin of 203.88%.

Gaxos.ai Stock Up 1.7%

Shares of NASDAQ:GXAI traded up $0.02 during midday trading on Thursday, reaching $1.22. The company had a trading volume of 306,096 shares, compared to its average volume of 1,170,601. The business’s 50 day moving average price is $1.31 and its 200 day moving average price is $1.28. The stock has a market cap of $12.47 million, a PE ratio of -2.22 and a beta of 0.90. Gaxos.ai has a 1-year low of $1.02 and a 1-year high of $2.96.

Institutional Trading of Gaxos.ai

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. XTX Topco Ltd increased its position in shares of Gaxos.ai by 197.4% in the fourth quarter. XTX Topco Ltd now owns 44,811 shares of the company’s stock valued at $48,000 after acquiring an additional 29,745 shares during the last quarter. Two Sigma Investments LP acquired a new stake in shares of Gaxos.ai in the third quarter valued at about $90,000. Finally, DRW Securities LLC acquired a new stake in shares of Gaxos.ai in the fourth quarter valued at about $213,000. Institutional investors and hedge funds own 42.62% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on GXAI. Weiss Ratings downgraded Gaxos.ai from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. Wall Street Zen downgraded Gaxos.ai to a “strong sell” rating in a research note on Saturday, March 7th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Gaxos.ai has a consensus rating of “Sell”.

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.