Nexalin Technology, Inc. (NASDAQ:NXL) Stock Short Interest Jumps 180.7%

Nexalin Technology, Inc. (NASDAQ:NXL) was the target of a significant increase in short interest in the month of October. As of October 30th, there was short interest totaling 12,581 shares, an increase of 180.7% from the October 15th total of 4,482 shares. Currently, 2.1% of the shares of the company are sold short. Based on an average trading volume of 59,806 shares, the short-interest ratio is currently 0.2 days.

Nexalin Technology Price Performance

Shares of NXL opened at $1.49 on Friday. The firm has a market cap of $1.09 million, a PE ratio of -0.10 and a beta of 4.31. The stock’s fifty day moving average price is $3.42 and its two-hundred day moving average price is $10.18. Nexalin Technology has a 1 year low of $1.31 and a 1 year high of $39.30.

Nexalin Technology (NASDAQ:NXL) last posted its quarterly earnings results on Thursday, November 12th. The company reported ($3.43) earnings per share for the quarter, missing the consensus estimate of ($2.91) by ($0.52). Nexalin Technology had a negative return on equity of 278.24% and a negative net margin of 4,141.94%. The firm had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.07 million. Sell-side analysts anticipate that Nexalin Technology will post -11.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nexalin Technology

A hedge fund recently bought a new position in Nexalin Technology stock. PEAK6 LLC bought a new position in shares of Nexalin Technology, Inc. (NASDAQ:NXL) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 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 SEC filing. Institutional investors and hedge funds own 0.65% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on NXL shares. Zacks Research upgraded shares of Nexalin Technology to a “hold” rating in a research note on Thursday, October 1st. Weiss Ratings lowered shares of Nexalin Technology from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, September 25th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

About Nexalin Technology

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.