Short Interest in Gaxos.ai Inc. (NASDAQ:GXAI) Increases By 24.1%
by Sarita Garza · The Markets DailyGaxos.ai Inc. (NASDAQ:GXAI – Get Free Report) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totaling 525,718 shares, a growth of 24.1% from the March 15th total of 423,663 shares. Based on an average trading volume of 1,328,787 shares, the days-to-cover ratio is presently 0.4 days. Currently, 5.3% of the shares of the company are sold short.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. XTX Topco Ltd lifted its position in Gaxos.ai by 197.4% in the fourth quarter. XTX Topco Ltd now owns 44,811 shares of the company’s stock worth $48,000 after purchasing an additional 29,745 shares during the period. DRW Securities LLC bought a new position in Gaxos.ai in the fourth quarter worth $213,000. Finally, Two Sigma Investments LP bought a new position in Gaxos.ai in the third quarter worth $90,000. 42.62% of the stock is owned by institutional investors.
Analysts Set New Price Targets
GXAI has been the subject of several research reports. Wall Street Zen cut Gaxos.ai to a “strong sell” rating in a research report on Saturday, March 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Gaxos.ai in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Gaxos.ai currently has an average rating of “Sell”.
Get Our Latest Research Report on Gaxos.ai
Gaxos.ai Trading Up 2.9%
GXAI stock traded up $0.04 during midday trading on Thursday, hitting $1.25. The stock had a trading volume of 512,695 shares, compared to its average volume of 10,048,264. The firm has a market capitalization of $12.72 million, a price-to-earnings ratio of -2.26 and a beta of 0.91. Gaxos.ai has a 52 week low of $1.00 and a 52 week high of $2.96. The stock has a 50-day simple moving average of $1.29 and a 200 day simple moving average of $1.35.
Gaxos.ai (NASDAQ:GXAI – Get Free Report) last issued its earnings results on Tuesday, March 17th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.03. The firm had revenue of $1.24 million during the quarter. Gaxos.ai had a negative return on equity of 27.61% and a negative net margin of 203.88%.
About Gaxos.ai
Gaxos.ai Inc engages in developing artificial intelligence applications for various sectors. Its portfolio includes applications in mental and physical wellbeing, coaching, and gaming. In addition, it offers Gaxos, a gaming platform develop, design, acquire, and manage conventional games and combine these games with unconventional game mechanisms. The company was formerly known as The NFT Gaming Company, Inc and changed its name to Gaxos.ai Inc in January 2024. Gaxos.ai Inc was incorporated in 2021 and is based in Roseland, New Jersey.