Nexalin Technology (NASDAQ:NXL) Raised 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 report report published on Monday morning, MarketBeat reports. The firm currently has $5.00 price objective on the stock.

Nexalin Technology Trading Down 3.2 %

NXL stock opened at $2.09 on Monday. The firm has a 50-day moving average of $2.76 and a two-hundred day moving average of $2.56. Nexalin Technology has a 12 month low of $0.53 and a 12 month high of $4.49. The company has a market cap of $27.81 million, a price-to-earnings ratio of -3.27 and a beta of 4.33.

Nexalin Technology (NASDAQ:NXL) last issued its earnings results on Friday, March 14th. The company reported ($0.28) earnings per share (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 company had revenue of $0.03 million during the quarter.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NXL. Kingsview Wealth Management LLC acquired a new stake in Nexalin Technology during the fourth quarter worth $28,000. Jane Street Group LLC acquired a new stake in shares of Nexalin Technology during the fourth quarter valued at about $28,000. Northern Trust Corp acquired a new stake in shares of Nexalin Technology during the fourth quarter valued at about $36,000. XTX Topco Ltd purchased a new stake in shares of Nexalin Technology in the 4th quarter valued at approximately $46,000. Finally, Drive Wealth Management LLC acquired a new position in shares of Nexalin Technology in the 4th quarter worth approximately $55,000. 0.65% of the stock is currently owned by institutional investors and hedge funds.

About Nexalin Technology

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.