Gaxos.ai (NASDAQ:GXAI) Trading Up 6.3% – Time to Buy?

Gaxos.ai Inc. (NASDAQ:GXAI) shares were up 6.3% during trading on Friday . The company traded as high as $1.53 and last traded at $1.52. Approximately 44,456 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 632,296 shares. The stock had previously closed at $1.43.

Gaxos.ai Price Performance

The stock has a 50-day simple moving average of $2.25 and a 200 day simple moving average of $3.52.

Gaxos.ai (NASDAQ:GXAI) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.72) EPS for the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Gaxos.ai stock. Murchinson Ltd. purchased a new position in Gaxos.ai Inc. (NASDAQ:GXAI) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 13,207 shares of the company’s stock, valued at approximately $81,000. Murchinson Ltd. owned about 1.21% of Gaxos.ai as of its most recent SEC filing. Hedge funds and other institutional investors own 42.62% of the company’s stock.

Gaxos.ai Company Profile

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.