Nuix (ASX:NXL) share price hits all-time low: Time to buy?

Nuix Ltd (ASX: NXL) shares sank to an all-time low of $5.70 during intraday trade on Wednesday.

The Nuix share price actually fell off a cliff back on Friday when the analytics software provider announced its financial results before the ASX opened for trade.

The 4% decline in revenue and statutory net loss of $16.6 million didn’t impress the market, which felt the company was falling behind its own prospectus projections.

After trading at as high as $11.86 in January, Nuix shares fell an ugly 31% that day to go from $8.98 to $6.20.

And the Nuix share price has descended even further this week to trade in the $5s by Wednesday lunchtime.

So what…