Nexalin Technology (NASDAQ:NXL) Stock Rating Upgraded by Maxim Group

Nexalin Technology (NASDAQ:NXL) was upgraded by equities research analysts at Maxim Group from a “hold” rating to a “buy” rating in a report released on Monday,Benzinga reports. The brokerage presently has a $5.00 price objective on the stock. Maxim Group’s target price suggests a potential upside of 110.08% from the stock’s current price.

Nexalin Technology Stock Down 4.0 %

NASDAQ:NXL opened at $2.38 on Monday. The firm has a market capitalization of $31.66 million, a PE ratio of -3.72 and a beta of 4.33. Nexalin Technology has a 12-month low of $0.48 and a 12-month high of $4.49. The firm has a 50-day moving average price of $2.79 and a 200 day moving average price of $2.55.

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. The company had revenue of $0.03 million during the quarter. Nexalin Technology had a negative return on equity of 187.59% and a negative net margin of 3,407.98%.

Institutional Investors Weigh In On Nexalin Technology

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in Nexalin Technology by 36.3% during the fourth quarter. Geode Capital Management LLC now owns 107,241 shares of the company’s stock worth $296,000 after buying an additional 28,544 shares during the last quarter. Drive Wealth Management LLC bought a new stake in Nexalin Technology during the 4th quarter worth approximately $55,000. XTX Topco Ltd bought a new stake in Nexalin Technology during the 4th quarter worth approximately $46,000. Northern Trust Corp acquired a new stake in Nexalin Technology during the 4th quarter valued at $36,000. Finally, Jane Street Group LLC bought a new position in Nexalin Technology in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 0.65% of the company’s stock.

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.