Nexalin Technology, Inc. (NASDAQ:NXL) Stock Short Interest Report for October

Nexalin Technology, Inc. (NASDAQ:NXL) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totaling 4,482 shares, a decrease of 65.7% from the September 30th total of 13,067 shares. Based on an average daily trading volume, of 5,740,341 shares, the short-interest ratio is currently 0.0 days. Approximately 0.7% of the company’s stock are sold short.

Wall Street Analyst Weigh In

NXL has been the subject of several research reports. Zacks Research raised Nexalin Technology to a “hold” rating in a report on Thursday, October 1st. Weiss Ratings downgraded Nexalin Technology from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, September 25th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce”.

Institutional Investors Weigh In On Nexalin Technology

An institutional investor recently bought a new stake in Nexalin Technology stock. PEAK6 LLC acquired a new stake in shares of Nexalin Technology, Inc. (NASDAQ:NXL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 240,210 shares of the company’s stock, valued at approximately $79,000. PEAK6 LLC owned 1.09% of Nexalin Technology as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 0.65% of the company’s stock.

Nexalin Technology Stock Performance

NASDAQ NXL remained flat at $1.63 during trading hours on Thursday. 11,439 shares of the company traded hands, compared to its average volume of 330,392. The company has a market cap of $1.20 million, a P/E ratio of -0.11 and a beta of 4.08. Nexalin Technology has a 52-week low of $1.59 and a 52-week high of $49.50. The stock has a 50-day moving average of $4.94 and a 200-day moving average of $11.19.

Nexalin Technology (NASDAQ:NXL) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($3.00) by $2.89. Nexalin Technology had a negative return on equity of 278.24% and a negative net margin of 4,141.94%. The business had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.09 million. On average, analysts expect that Nexalin Technology will post -11.42 earnings per share for the current year.

Nexalin Technology Company Profile

Nexalin Technology, Inc (NASDAQ:NXL) is a medical technology company focused on developing and commercializing noninvasive neurostimulation devices for mental health and neurological applications. Its technology is designed to deliver low-intensity electrical stimulation to the brain with the goal of influencing neural activity associated with conditions such as depression, anxiety, insomnia, post-traumatic stress disorder and substance-use disorders.

The company’s product portfolio includes the Gen-2 and Gen-3 neurostimulation systems.