Insider Buying: Nexalin Technology, Inc. (NASDAQ:NXL) VP Buys $13,200.00 in Stock

Nexalin Technology, Inc. (NASDAQ:NXL) VP Carolyn Hamby Shelton bought 6,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average cost of $2.20 per share, for a total transaction of $13,200.00. Following the completion of the purchase, the vice president now directly owns 30,000 shares of the company’s stock, valued at $66,000. This represents a 25.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Nexalin Technology Stock Performance

Shares of Nexalin Technology stock opened at $2.15 on Friday. The stock has a market capitalization of $28.60 million, a price-to-earnings ratio of -3.36 and a beta of 4.33. The company has a fifty day moving average of $2.85 and a 200-day moving average of $2.48. Nexalin Technology, Inc. has a 52-week low of $0.35 and a 52-week high of $4.49.

Nexalin Technology (NASDAQ:NXL) last released its quarterly earnings data on Friday, March 14th. The company reported ($0.28) 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 company had revenue of $0.03 million for the quarter.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Nexalin Technology

A number of large investors have recently modified their holdings of NXL. Kingsview Wealth Management LLC purchased a new position in Nexalin Technology during the 4th quarter valued at about $28,000. Jane Street Group LLC bought a new position in shares of Nexalin Technology during the fourth quarter valued at approximately $28,000. Northern Trust Corp bought a new stake in shares of Nexalin Technology in the 4th quarter worth approximately $36,000. XTX Topco Ltd purchased a new stake in shares of Nexalin Technology in the 4th quarter worth approximately $46,000. Finally, Drive Wealth Management LLC bought a new position in Nexalin Technology during the 4th quarter valued at approximately $55,000. Institutional investors 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.