Gaxos.ai (NASDAQ:GXAI) Stock Price Down 6.9%

Shares of Gaxos.ai Inc. (NASDAQ:GXAI) fell 6.9% during trading on Friday . The company traded as low as $2.95 and last traded at $2.95. 15,439 shares traded hands during trading, a decline of 97% from the average session volume of 542,105 shares. The stock had previously closed at $3.17.

Gaxos.ai Stock Performance

The company has a 50-day moving average of $4.21.

Gaxos.ai (NASDAQ:GXAI) last posted its earnings results on Tuesday, May 14th. The company reported ($0.91) EPS for the quarter. The business had revenue of $0.02 million for the quarter.

Hedge Funds Weigh In On Gaxos.ai

An institutional investor recently bought a new position in Gaxos.ai stock. Murchinson Ltd. bought a new position in shares of Gaxos.ai Inc. (NASDAQ:GXAI) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 13,207 shares of the company’s stock, valued at approximately $81,000. Murchinson Ltd. owned 1.21% of Gaxos.ai at the end of the most recent quarter. 42.62% of the stock is currently owned by hedge funds and other institutional investors.

About Gaxos.ai

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.