Nexalin Technology, Inc. (NASDAQ:NXL) Short Interest Update

Nexalin Technology, Inc. (NASDAQ:NXL) saw a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 147,226 shares, a growth of 352.8% from the January 15th total of 32,516 shares. Currently, 1.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 109,573 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily trading volume, of 109,573 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.1% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wall Street Zen downgraded shares of Nexalin Technology from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nexalin Technology in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Nexalin Technology has an average rating of “Hold” and a consensus price target of $5.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NXL. Susquehanna International Group LLP bought a new stake in shares of Nexalin Technology during the 3rd quarter worth approximately $57,000. Geode Capital Management LLC increased its stake in Nexalin Technology by 23.4% in the fourth quarter. Geode Capital Management LLC now owns 150,274 shares of the company’s stock worth $84,000 after purchasing an additional 28,454 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Nexalin Technology by 119.2% during the fourth quarter. Renaissance Technologies LLC now owns 122,100 shares of the company’s stock worth $68,000 after purchasing an additional 66,400 shares during the last quarter. Hedge funds and other institutional investors own 0.65% of the company’s stock.

Nexalin Technology Price Performance

NASDAQ:NXL traded down $0.01 during mid-day trading on Friday, hitting $0.44. 58,385 shares of the company’s stock were exchanged, compared to its average volume of 365,530. Nexalin Technology has a one year low of $0.42 and a one year high of $3.54. The business has a fifty day moving average price of $0.69 and a 200 day moving average price of $0.94. The company has a market cap of $8.17 million, a PE ratio of -0.66 and a beta of 3.95.

Nexalin Technology (NASDAQ:NXL) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The firm had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.04 million. Nexalin Technology had a negative return on equity of 207.46% and a negative net margin of 5,527.39%.

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.