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

Maxim Group started coverage on shares of Nexalin Technology (NASDAQ:NXL) in a research note published on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $3.00 price objective on the stock.

Nexalin Technology Stock Performance

NASDAQ:NXL opened at $0.78 on Wednesday. The firm’s 50-day moving average is $0.83 and its 200-day moving average is $1.20. Nexalin Technology has a 52-week low of $0.25 and a 52-week high of $4.05. The company has a market cap of $8.27 million, a price-to-earnings ratio of -1.18 and a beta of 5.67.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Nexalin Technology stock. CVI Holdings LLC acquired a new position in shares of Nexalin Technology, Inc. (NASDAQ:NXL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 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 and 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.