The Nexalin Technology Inc (NASDAQ: NXL) Stock Price: Is It Overvalued?

Nexalin Technology Inc (NASDAQ:NXL) shares, rose in value, with the stock price down by -16.38% to the previous day’s close as strong demand from buyers drove the stock to $2.40.

Actively observing the price movement in the last trading, the stock closed the session at $2.87. Referring to stock’s 52-week performance, its high was $3.40, and the low was $0.25. On the whole, NXL has fluctuated by 648.60% over the past month.

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Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that NXL’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 50% Buy.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of NXL currently trading nearly 230.88% and 388.30% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 78.81, while the 7-day volatility ratio is showing 72.76% which for the 30-day chart, stands at 38.05%. Furthermore, Nexalin Technology Inc (NXL)’s beta value is 5.41, and its average true range (ATR) is 0.36.

A comparison of Nexalin Technology Inc (NXL) with its peers suggests the former has fared considerably weaker in the market. NXL showed an intraday change of -16.38% in last session, and over the past year, it grew by 186.40%%.

Data on historical trading for Nexalin Technology Inc (NASDAQ:NXL) indicates that the trading volumes over the past 10 days have averaged 2.99 million and over the past 3 months, they’ve averaged 718.88K. According to company’s latest data on outstanding shares, there are 7.44 million shares outstanding.

Nearly 21.06% of Nexalin Technology Inc’s shares belong to company insiders and institutional investors own 0.65% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.16 million shares as on Mar 15, 2024, resulting in a short ratio of 0.18. According to the data, the short interest in Nexalin Technology Inc (NXL) stood at 2.20% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 8770.0. The stock has risen by 492.89% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NXL stock heading into the next quarter.