Gaxos.ai Inc. (NASDAQ:GXAI) Shares Shorted: Short Interest Down 45.0% in September

Gaxos.ai Inc. (NASDAQ:GXAI) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 226,819 shares, a drop of 45.0% from the September 15th total of 412,531 shares. Based on an average daily trading volume, of 258,211 shares, the short-interest ratio is presently 0.9 days. Currently, 2.2% of the company’s shares are sold short.

Institutional Trading of Gaxos.ai

An institutional investor recently bought a new stake in Gaxos.ai stock. Susquehanna International Group LLP purchased a new stake in Gaxos.ai Inc. (NASDAQ:GXAI) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 56,353 shares of the company’s stock, valued at approximately $66,000. Susquehanna International Group LLP owned approximately 0.79% of Gaxos.ai as of its most recent filing with the Securities and Exchange Commission (SEC). 42.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GXAI. Wall Street Zen raised Gaxos.ai from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings downgraded shares of Gaxos.ai from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, September 14th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Gaxos.ai Stock Down 1.3%

Shares of GXAI traded down $0.01 during trading hours on Friday, reaching $0.42. The stock had a trading volume of 65,240 shares, compared to its average volume of 5,153,284. The company has a market cap of $4.52 million, a P/E ratio of -0.84 and a beta of 1.08. Gaxos.ai has a 52 week low of $0.42 and a 52 week high of $2.63. The firm has a 50-day moving average of $0.69 and a 200 day moving average of $1.00.

Gaxos.ai (NASDAQ:GXAI) last posted its earnings results on Wednesday, August 12th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.17. Gaxos.ai had a negative return on equity of 38.79% and a negative net margin of 64.81%. The firm had revenue of $2.46 million for the quarter, compared to analyst estimates of $1.80 million. As a group, equities analysts expect that Gaxos.ai will post -0.30 earnings per share for the current year.

Gaxos.ai declared that its board has authorized a stock buyback plan on Monday, August 3rd that allows the company to buy back $1,000.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 18,726,591.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Gaxos.ai Company Profile

Gaxos.ai, Inc is a technology company focused on developing and commercializing artificial intelligence applications for consumer and enterprise markets. The company’s activities center primarily on gaming, health and wellness, and other software applications that use generative AI and related technologies.

Within gaming, Gaxos.ai works on AI-enabled experiences and tools designed to support game development and enhance interactions between players and digital characters. Its health and wellness initiatives are intended to apply artificial intelligence to consumer-oriented products and services.