Gaxos.ai (NASDAQ:GXAI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Gaxos.ai (NASDAQ:GXAI) from a sell rating to a hold rating in a report published on Saturday morning.

Separately, Weiss Ratings raised Gaxos.ai from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Gaxos.ai Price Performance

Shares of GXAI opened at $0.86 on Friday. The company has a market capitalization of $6.09 million, a P/E ratio of -1.71 and a beta of 0.94. Gaxos.ai has a one year low of $0.73 and a one year high of $2.96. The business’s 50 day simple moving average is $1.06 and its 200-day simple moving average is $1.21.

Gaxos.ai (NASDAQ:GXAI) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.17. The firm had revenue of $2.46 million for the quarter, compared to analyst estimates of $1.80 million. Gaxos.ai had a negative net margin of 64.81% and a negative return on equity of 38.79%. On average, sell-side analysts anticipate that Gaxos.ai will post -0.64 EPS for the current fiscal year.

Gaxos.ai declared that its Board of Directors has authorized a share repurchase program on Monday, August 3rd that permits the company to buyback $1,000.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 18,726,591.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Gaxos.ai

Large investors have recently made changes to their positions in the company. XTX Topco Ltd raised its stake in Gaxos.ai by 197.4% during the 4th quarter. XTX Topco Ltd now owns 44,811 shares of the company’s stock worth $48,000 after buying an additional 29,745 shares during the period. DRW Securities LLC bought a new position in Gaxos.ai during the fourth quarter worth about $213,000. Finally, Two Sigma Investments LP acquired a new position in Gaxos.ai in the third quarter valued at about $90,000. Institutional investors own 42.62% of the company’s stock.

Gaxos.ai Company Profile

Gaxos.ai Inc engages in developing artificial intelligence applications for various sectors. Its portfolio includes applications in mental and physical wellbeing, coaching, and gaming. In addition, it offers Gaxos, a gaming platform develop, design, acquire, and manage conventional games and combine these games with unconventional game mechanisms. The company was formerly known as The NFT Gaming Company, Inc and changed its name to Gaxos.ai Inc in January 2024. Gaxos.ai Inc was incorporated in 2021 and is based in Roseland, New Jersey.