Nexalin Technology (NASDAQ:NXL) Shares Up 5.5% – Here’s What Happened

Nexalin Technology, Inc. (NASDAQ:NXL) was up 5.5% during trading on Thursday . The stock traded as high as $2.88 and last traded at $2.88. Approximately 301,249 shares changed hands during trading, a decline of 78% from the average daily volume of 1,371,382 shares. The stock had previously closed at $2.73.

Analyst Upgrades and Downgrades

Separately, Maxim Group reissued a “hold” rating on shares of Nexalin Technology in a research note on Thursday, December 5th.

Nexalin Technology Stock Up 5.5 %

The company’s 50-day simple moving average is $3.30 and its 200 day simple moving average is $1.84. The stock has a market capitalization of $38.32 million, a price-to-earnings ratio of -4.50 and a beta of 3.78.

Nexalin Technology (NASDAQ:NXL) last posted its earnings results on Friday, November 8th. The company reported ($0.23) earnings per share for the quarter. Nexalin Technology had a negative return on equity of 187.59% and a negative net margin of 3,407.98%. The company had revenue of $0.04 million during the quarter.

Institutional Investors Weigh In On Nexalin Technology

An institutional investor recently bought a new position in Nexalin Technology stock. CVI Holdings LLC bought a new stake in Nexalin Technology, Inc. (NASDAQ:NXL) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 55,462 shares of the company’s stock, valued at approximately $94,000. CVI Holdings LLC owned about 0.52% of Nexalin Technology as of its most recent SEC filing. 0.65% of the stock is 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.