Nexalin Technology, Inc. (NASDAQ:NXL) Stock Short Interest Report for October

Nexalin Technology, Inc. (NASDAQ:NXL) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 4,482 shares, a decrease of 65.7% from the September 30th total of 13,067 shares. Based on an average daily volume of 5,740,341 shares, the short-interest ratio is currently 0.0 days. Approximately 0.7% of the shares of the company are sold short.

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 disclosure with the Securities & Exchange Commission. The institutional investor 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. 0.65% of the stock is owned by hedge funds and other institutional investors.

Nexalin Technology Trading Down 1.9%

Shares of Nexalin Technology stock traded down $0.03 on Friday, hitting $1.60. The stock had a trading volume of 19,449 shares, compared to its average volume of 328,906. The company’s 50 day moving average price is $4.78 and its 200 day moving average price is $11.09. Nexalin Technology has a 52-week low of $1.51 and a 52-week high of $48.00. The stock has a market cap of $1.17 million, a price-to-earnings ratio of -0.11 and a beta of 4.08.

Nexalin Technology (NASDAQ:NXL) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($3.00) by $2.89. The firm had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.09 million. Nexalin Technology had a negative net margin of 4,141.94% and a negative return on equity of 278.24%. Analysts predict that Nexalin Technology will post -11.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Weiss Ratings cut shares of Nexalin Technology from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, September 25th. Zacks Research raised shares of Nexalin Technology to a “hold” rating in a report on Thursday, October 1st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Nexalin Technology currently has an average 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.