Nexalin Technology (NASDAQ:NXL) Coverage Initiated at Maxim Group

Equities researchers at Maxim Group began coverage on shares of Nexalin Technology (NASDAQ:NXL) in a note issued to investors on Wednesday, Benzinga reports. The brokerage set a “buy” rating and a $3.00 price target on the stock. Maxim Group’s price target indicates a potential upside of 341.18% from the stock’s current price.

Nexalin Technology Stock Performance

Shares of NXL opened at $0.68 on Wednesday. The company has a 50 day moving average price of $0.86 and a 200-day moving average price of $1.21. Nexalin Technology has a fifty-two week low of $0.25 and a fifty-two week high of $4.05. The stock has a market capitalization of $7.20 million, a PE ratio of -1.03 and a beta of 5.67.

Institutional Investors Weigh In On Nexalin Technology

A hedge fund recently bought a new stake in Nexalin Technology stock. CVI Holdings LLC purchased a new stake in shares of Nexalin Technology, Inc. (NASDAQ:NXL) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 55,462 shares of the company’s stock, valued at approximately $94,000. CVI Holdings LLC owned approximately 0.52% of Nexalin Technology at the end of the most recent quarter. 0.65% of the stock is owned by hedge funds and other institutional investors.

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.