Nexalin Technology (NASDAQ:NXL) Releases Earnings Results, Misses Estimates By $0.52 EPS

Nexalin Technology (NASDAQ:NXL) announced its quarterly earnings results on Thursday. The company reported ($3.43) EPS for the quarter, missing the consensus estimate of ($2.91) by ($0.52), FiscalAI reports. Nexalin Technology had a negative return on equity of 278.24% and a negative net margin of 4,141.94%. The company had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.07 million.

Nexalin Technology Stock Performance

Shares of NXL traded down $0.10 during trading hours on Thursday, reaching $1.49. The company had a trading volume of 14,613 shares, compared to its average volume of 43,979. Nexalin Technology has a 12-month low of $1.31 and a 12-month high of $39.30. The firm has a 50 day simple moving average of $3.42 and a 200-day simple moving average of $10.18.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Zacks Research raised shares of Nexalin Technology to a “hold” rating in a research report on Thursday, October 1st. Weiss Ratings lowered shares of Nexalin Technology from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, September 25th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce”.

About Nexalin Technology

Nexalin Technology, Inc. (NASDAQ:NXL) is a medical technology company focused on developing and commercializing noninvasive neurostimulation devices for mental health and neurological applications. Its technology is designed to deliver low-intensity electrical stimulation to the brain with the goal of influencing neural activity associated with conditions such as depression, anxiety, insomnia, post-traumatic stress disorder and substance-use disorders. The company’s product portfolio includes the Gen-2 and Gen-3 neurostimulation systems.