Gaxos.ai (NASDAQ:GXAI) Trading 2.9% Higher – Here’s What Happened

Gaxos.ai Inc. (NASDAQ:GXAI) shares traded up 2.9% on Monday . The stock traded as high as $1.46 and last traded at $1.43. 46,660 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 100,272 shares. The stock had previously closed at $1.39.

Gaxos.ai Stock Down 3.4 %

The company’s 50 day moving average price is $1.96 and its two-hundred day moving average price is $2.88.

Gaxos.ai (NASDAQ:GXAI) last announced its earnings results on Tuesday, August 13th. The company reported ($0.72) earnings per share for the quarter.

Institutional Inflows and Outflows

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

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.