Nexalin Technology (NASDAQ:NXL) Trading Down 8.3% – Here’s What Happened

Nexalin Technology, Inc. (NASDAQ:NXL)’s stock price dropped 8.3% during mid-day trading on Tuesday . The company traded as low as $1.50 and last traded at $1.54. Approximately 1,050,788 shares changed hands during trading, a decline of 90% from the average daily volume of 10,630,486 shares. The stock had previously closed at $1.68.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nexalin Technology in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nexalin Technology currently has a consensus rating of “Hold” and an average price target of $5.00.

Nexalin Technology Trading Down 8.3%

The company has a fifty day moving average of $1.00 and a 200-day moving average of $1.17. The stock has a market cap of $27.18 million, a PE ratio of -2.03 and a beta of 3.59.

Nexalin Technology (NASDAQ:NXL) last announced its earnings results on Wednesday, August 6th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.04 million. Nexalin Technology had a negative return on equity of 209.20% and a negative net margin of 5,057.14%.

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.