Nexalin Technology (NASDAQ:NXL) Upgraded at Maxim Group

Maxim Group upgraded shares of Nexalin Technology (NASDAQ:NXL) from a hold rating to a buy rating in a report issued on Monday morning,Benzinga reports. The firm currently has $5.00 price target on the stock.

Nexalin Technology Stock Performance

Shares of NXL opened at $2.34 on Monday. The stock has a 50 day simple moving average of $2.79 and a 200 day simple moving average of $2.56. Nexalin Technology has a 52-week low of $0.48 and a 52-week high of $4.49. The firm has a market capitalization of $31.13 million, a PE ratio of -3.66 and a beta of 4.33.

Nexalin Technology (NASDAQ:NXL) last issued its quarterly earnings data on Friday, March 14th. The company reported ($0.28) earnings per share (EPS) for the quarter. The company 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%.

Institutional Investors Weigh In On Nexalin Technology

Several institutional investors have recently bought and sold shares of the company. Kingsview Wealth Management LLC bought a new stake in shares of Nexalin Technology in the fourth quarter worth $28,000. Jane Street Group LLC acquired a new stake in Nexalin Technology in the 4th quarter valued at $28,000. Northern Trust Corp bought a new stake in Nexalin Technology during the 4th quarter worth about $36,000. XTX Topco Ltd bought a new stake in Nexalin Technology during the 4th quarter worth about $46,000. Finally, Drive Wealth Management LLC acquired a new position in Nexalin Technology during the fourth quarter valued at approximately $55,000. 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.