Gaxos.ai (GXAI) to Announce Earnings on Wednesday

Gaxos.ai (NASDAQ:GXAI) is projected to release its results before the market opens on Wednesday, August 12th. Analysts expect Gaxos.ai to post earnings of ($0.15) per share and revenue of $1.80 million for the quarter.

Gaxos.ai (NASDAQ:GXAI) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.05). The company had revenue of $1.81 million during the quarter, compared to analysts’ expectations of $1.60 million. Gaxos.ai had a negative return on equity of 34.42% and a negative net margin of 131.28%. On average, analysts expect Gaxos.ai to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Gaxos.ai Trading Up 11.1%

NASDAQ:GXAI opened at $0.91 on Wednesday. The company has a market capitalization of $6.46 million, a P/E ratio of -1.44 and a beta of 0.94. The business’s 50-day moving average is $1.13 and its 200 day moving average is $1.23. Gaxos.ai has a 12 month low of $0.73 and a 12 month high of $2.96.

Gaxos.ai declared that its board has authorized a share repurchase plan on Monday, August 3rd that allows the company to repurchase $1,000.00 billion in shares. This repurchase authorization allows the company to purchase up to 18,726,591.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new position in Gaxos.ai in the second quarter valued at about $48,000. DRW Securities LLC acquired a new position in Gaxos.ai during the 4th quarter valued at approximately $213,000. Finally, Two Sigma Investments LP acquired a new position in shares of Gaxos.ai in the 3rd quarter valued at $90,000. 42.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Gaxos.ai from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Gaxos.ai presently has a consensus rating of “Sell”.

About Gaxos.ai

Gaxos.ai Inc engages in developing artificial intelligence applications for various sectors. Its portfolio includes applications in mental and physical wellbeing, coaching, and gaming. In addition, it offers Gaxos, a gaming platform develop, design, acquire, and manage conventional games and combine these games with unconventional game mechanisms. The company was formerly known as The NFT Gaming Company, Inc and changed its name to Gaxos.ai Inc in January 2024. Gaxos.ai Inc was incorporated in 2021 and is based in Roseland, New Jersey.