Short Interest in Nexalin Technology, Inc. (NASDAQ:NXL) Increases By 286.2%

Nexalin Technology, Inc. (NASDAQ:NXL) was the recipient of a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 568,576 shares, a growth of 286.2% from the January 29th total of 147,226 shares. Based on an average daily trading volume, of 849,769 shares, the short-interest ratio is currently 0.7 days. Approximately 4.1% of the company’s shares are sold short. Approximately 4.1% of the company’s shares are sold short. Based on an average daily trading volume, of 849,769 shares, the short-interest ratio is currently 0.7 days.

Hedge Funds Weigh In On Nexalin Technology

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in shares of Nexalin Technology by 23.4% during the 4th quarter. Geode Capital Management LLC now owns 150,274 shares of the company’s stock worth $84,000 after buying an additional 28,454 shares in the last quarter. Susquehanna International Group LLP bought a new stake in shares of Nexalin Technology in the 3rd quarter valued at $57,000. Renaissance Technologies LLC lifted 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 valued at $68,000 after acquiring an additional 66,400 shares during the period. Finally, PEAK6 LLC acquired a new position in shares of Nexalin Technology during the 4th quarter valued at $266,000. 0.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Nexalin Technology Stock Up 0.7%

Nexalin Technology stock traded up $0.00 during trading hours on Thursday, reaching $0.51. 45,397 shares of the company’s stock were exchanged, compared to its average volume of 416,146. The firm’s 50 day simple moving average is $0.61 and its 200 day simple moving average is $0.90. Nexalin Technology has a twelve month low of $0.37 and a twelve month high of $2.80. The firm has a market capitalization of $9.46 million, a PE ratio of -0.77 and a beta of 3.95.

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.