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

Nexalin Technology, Inc. (NASDAQ:NXL) was the recipient of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 323,373 shares, a decrease of 50.6% from the July 15th total of 654,993 shares. Based on an average daily volume of 221,455 shares, the short-interest ratio is presently 1.5 days. Approximately 1.8% of the company’s shares are short sold.

Nexalin Technology Price Performance

NXL stock traded down $0.00 during trading on Friday, reaching $0.35. 66,578 shares of the stock traded hands, compared to its average volume of 187,548. The firm has a market capitalization of $7.71 million, a PE ratio of -0.73 and a beta of 4.00. The business’s 50 day moving average price is $0.39 and its 200-day moving average price is $0.43. Nexalin Technology has a 52-week low of $0.30 and a 52-week high of $2.00.

Nexalin Technology (NASDAQ:NXL) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The firm had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.09 million. Nexalin Technology had a negative return on equity of 278.24% and a negative net margin of 4,141.94%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Susquehanna International Group LLP purchased a new stake in Nexalin Technology during the third quarter worth approximately $57,000. Renaissance Technologies LLC raised its stake in shares of Nexalin Technology by 119.2% in the 4th quarter. Renaissance Technologies LLC now owns 122,100 shares of the company’s stock valued at $68,000 after acquiring an additional 66,400 shares during the period. Geode Capital Management LLC raised its stake in shares of Nexalin Technology by 23.4% in the 4th 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 during the period. PEAK6 LLC purchased a new position in shares of Nexalin Technology in the 2nd quarter valued at $79,000. Finally, AWM Investment Company Inc. acquired a new position in shares of Nexalin Technology during the 2nd quarter valued at $18,135,000. Hedge funds and other institutional investors own 0.65% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nexalin Technology in a report on Wednesday, July 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

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.