Nexalin Technology (NASDAQ:NXL) Upgraded to “Buy” at Maxim Group

Maxim Group upgraded shares of Nexalin Technology (NASDAQ:NXL) from a hold rating to a buy rating in a research note released on Monday,Benzinga reports. They currently have $5.00 price objective on the stock.

Nexalin Technology Stock Performance

Nexalin Technology stock opened at $2.34 on Monday. The firm’s 50 day moving average price is $2.79 and its two-hundred day moving average price is $2.56. The firm has a market cap of $31.13 million, a PE ratio of -3.66 and a beta of 4.33. Nexalin Technology has a twelve month low of $0.48 and a twelve month high of $4.49.

Nexalin Technology (NASDAQ:NXL) last announced its quarterly earnings results on Friday, March 14th. The company reported ($0.28) EPS for the quarter. Nexalin Technology had a negative net margin of 3,407.98% and a negative return on equity of 187.59%. The firm had revenue of $0.03 million during the quarter.

Institutional Investors Weigh In On Nexalin Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in NXL. Drive Wealth Management LLC bought a new position in Nexalin Technology in the 4th quarter worth approximately $55,000. Kingsview Wealth Management LLC bought a new position in shares of Nexalin Technology during the fourth quarter valued at $28,000. Geode Capital Management LLC boosted its position in Nexalin Technology by 36.3% in the fourth quarter. Geode Capital Management LLC now owns 107,241 shares of the company’s stock valued at $296,000 after buying an additional 28,544 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Nexalin Technology in the 4th quarter worth approximately $46,000. Finally, Northern Trust Corp acquired a new position in Nexalin Technology in the fourth quarter worth $36,000. 0.65% of the stock is currently owned by institutional investors and hedge funds.

Nexalin Technology Company Profile

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.