Nexalin Technology, Inc. (NASDAQ:NXL) Short Interest Update

Nexalin Technology, Inc. (NASDAQ:NXL) saw a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 147,226 shares, a growth of 352.8% from the January 15th total of 32,516 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily volume of 109,573 shares, the days-to-cover ratio is currently 1.3 days. Based on an average daily volume of 109,573 shares, the days-to-cover ratio is currently 1.3 days. Currently, 1.1% of the shares of the company are sold short.

Nexalin Technology Price Performance

NXL stock traded down $0.03 during trading on Thursday, hitting $0.45. 119,834 shares of the stock traded hands, compared to its average volume of 376,221. Nexalin Technology has a 1 year low of $0.44 and a 1 year high of $3.54. The stock has a market cap of $8.32 million, a price-to-earnings ratio of -0.68 and a beta of 3.95. The firm’s 50 day moving average is $0.69 and its two-hundred day moving average is $0.94.

Nexalin Technology (NASDAQ:NXL) last issued its earnings results on Friday, November 14th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). Nexalin Technology had a negative return on equity of 207.46% and a negative net margin of 5,527.39%.The business had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.04 million.

Institutional Trading of Nexalin Technology

Several institutional investors have recently added to or reduced their stakes in NXL. Susquehanna International Group LLP purchased a new stake in Nexalin Technology in the 3rd quarter worth approximately $57,000. Renaissance Technologies LLC raised its position in shares of Nexalin Technology by 119.2% during the 4th quarter. Renaissance Technologies LLC now owns 122,100 shares of the company’s stock worth $68,000 after purchasing an additional 66,400 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Nexalin Technology by 23.4% in the fourth quarter. Geode Capital Management LLC now owns 150,274 shares of the company’s stock valued at $84,000 after acquiring an additional 28,454 shares in the last quarter. Institutional investors own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NXL. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nexalin Technology in a research report on Monday, December 29th. Wall Street Zen downgraded Nexalin Technology from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Nexalin Technology currently has an average rating of “Hold” and an average target price of $5.00.

Nexalin Technology Company Profile

Nexalin Technology, Inc is a U.S.-based medical device company specializing in noninvasive neuromodulation therapies for mental health conditions. The company develops and markets the Nexalin® medical device platform, which delivers proprietary alternating current waveforms to targeted areas of the brain through forehead-mounted electrodes. Its technology is designed to modulate neural activity without pharmaceuticals, positioning the company within the growing field of digital therapeutics and neurostimulation.

The Nexalin device has received U.S.