Drive Wealth Management LLC Makes New $55,000 Investment in Nexalin Technology, Inc. (NASDAQ:NXL)

Drive Wealth Management LLC bought a new position in shares of Nexalin Technology, Inc. (NASDAQ:NXL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 20,000 shares of the company’s stock, valued at approximately $55,000. Drive Wealth Management LLC owned approximately 0.15% of Nexalin Technology as of its most recent SEC filing.

Nexalin Technology Trading Down 1.2 %

Shares of NXL opened at $2.57 on Wednesday. Nexalin Technology, Inc. has a twelve month low of $0.25 and a twelve month high of $4.49. The firm’s fifty day simple moving average is $3.36 and its 200-day simple moving average is $2.08. The firm has a market capitalization of $34.18 million, a price-to-earnings ratio of -4.02 and a beta of 4.24.

Nexalin Technology (NASDAQ:NXL) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.23) earnings per share for the quarter. Nexalin Technology had a negative net margin of 3,407.98% and a negative return on equity of 187.59%. The firm had revenue of $0.04 million during the quarter.

Analysts Set New Price Targets

Separately, Maxim Group reiterated a “hold” rating on shares of Nexalin Technology in a report on Thursday, December 5th.

Nexalin Technology 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.