Nexalin Technology (NASDAQ:NXL) Raised to Buy at Maxim Group

Nexalin Technology (NASDAQ:NXL) was upgraded by analysts at Maxim Group from a “hold” rating to a “buy” rating in a report issued on Monday,Benzinga reports. The brokerage currently has a $5.00 target price on the stock. Maxim Group’s target price suggests a potential upside of 131.48% from the stock’s previous close.

Nexalin Technology Stock Down 7.7 %

NXL stock opened at $2.16 on Monday. The company has a market cap of $28.74 million, a price-to-earnings ratio of -3.37 and a beta of 4.33. Nexalin Technology has a twelve month low of $0.50 and a twelve month high of $4.49. The business has a 50 day moving average price of $2.78 and a two-hundred day moving average price of $2.57.

Nexalin Technology (NASDAQ:NXL) last issued its earnings results on Friday, March 14th. The company reported ($0.28) earnings per share for the quarter. The firm had revenue of $0.03 million for the quarter. Nexalin Technology had a negative return on equity of 187.59% and a negative net margin of 3,407.98%.

Hedge Funds Weigh In On Nexalin Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Kingsview Wealth Management LLC bought a new stake in Nexalin Technology in the fourth quarter valued at approximately $28,000. Drive Wealth Management LLC acquired a new position in shares of Nexalin Technology during the 4th quarter worth approximately $55,000. Jane Street Group LLC bought a new stake in Nexalin Technology in the 4th quarter valued at $28,000. Northern Trust Corp bought a new stake in Nexalin Technology in the 4th quarter valued at $36,000. Finally, Geode Capital Management LLC lifted its holdings in Nexalin Technology by 36.3% during the 4th quarter. Geode Capital Management LLC now owns 107,241 shares of the company’s stock valued at $296,000 after purchasing an additional 28,544 shares during the last quarter. Institutional investors 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.