Short Interest in Nexalin Technology, Inc. (NASDAQ:NXL) Grows By 24.7%
by Scott Moore · The Cerbat GemNexalin Technology, Inc. (NASDAQ:NXL – Get Free Report) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totaling 601,117 shares, a growth of 24.7% from the March 31st total of 481,971 shares. Based on an average daily volume of 1,844,311 shares, the short-interest ratio is presently 0.3 days. Currently, 3.9% of the company’s stock are sold short.
Institutional Trading of Nexalin Technology
A number of hedge funds have recently made changes to their positions in the business. PEAK6 LLC acquired a new stake in shares of Nexalin Technology in the fourth quarter valued at approximately $266,000. Renaissance Technologies LLC lifted its position in shares of Nexalin Technology by 119.2% in the fourth quarter. Renaissance Technologies LLC now owns 122,100 shares of the company’s stock valued at $68,000 after buying an additional 66,400 shares during the last quarter. 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 buying an additional 28,454 shares during the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in shares of Nexalin Technology in the third quarter valued at approximately $57,000. 0.65% of the stock is owned by institutional investors and hedge funds.
Nexalin Technology Stock Performance
NASDAQ NXL traded up $0.03 during trading hours on Friday, hitting $0.38. 141,660 shares of the company traded hands, compared to its average volume of 1,042,756. The business’s 50-day moving average is $0.42 and its 200-day moving average is $0.74. Nexalin Technology has a twelve month low of $0.33 and a twelve month high of $2.00. The stock has a market capitalization of $7.83 million, a price-to-earnings ratio of -0.75 and a beta of 3.57.
Nexalin Technology (NASDAQ:NXL – Get Free Report) last released its quarterly earnings data on Wednesday, March 25th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). Nexalin Technology had a negative net margin of 2,722.19% and a negative return on equity of 195.69%. The business had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.08 million.
About Nexalin Technology
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.