Nexalin Technology (NASDAQ:NXL) Now Covered by Maxim Group

Investment analysts at Maxim Group began coverage on shares of Nexalin Technology (NASDAQ:NXL) in a research note issued on Wednesday, MarketBeat.com reports. The firm set a “buy” rating and a $3.00 price target on the stock. Maxim Group’s price objective suggests a potential upside of 371.70% from the company’s previous close.

Nexalin Technology Stock Up 2.1 %

NASDAQ NXL opened at $0.64 on Wednesday. The company has a market capitalization of $6.74 million, a price-to-earnings ratio of -0.88 and a beta of 5.67. Nexalin Technology has a twelve month low of $0.25 and a twelve month high of $4.05. The stock has a fifty day simple moving average of $0.84 and a 200 day simple moving average of $1.20.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Nexalin Technology stock. CVI Holdings LLC purchased a new stake in Nexalin Technology, Inc. (NASDAQ:NXL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 55,462 shares of the company’s stock, valued at approximately $94,000. CVI Holdings LLC owned 0.52% of Nexalin Technology as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 0.65% of the company’s stock.

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.