Short Interest in Gaxos.ai Inc. (NASDAQ:GXAI) Decreases By 51.9%

Gaxos.ai Inc. (NASDAQ:GXAI) was the recipient of a large decrease in short interest during the month of January. As of January 15th, there was short interest totaling 129,859 shares, a decrease of 51.9% from the December 31st total of 270,190 shares. Approximately 1.9% of the shares of the stock are sold short. Based on an average daily volume of 116,424 shares, the days-to-cover ratio is currently 1.1 days. Based on an average daily volume of 116,424 shares, the days-to-cover ratio is currently 1.1 days. Approximately 1.9% of the shares of the stock are sold short.

Institutional Investors Weigh In On Gaxos.ai

An institutional investor recently bought a new position in Gaxos.ai stock. XTX Topco Ltd acquired a new stake in shares of Gaxos.ai Inc. (NASDAQ:GXAI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 34,006 shares of the company’s stock, valued at approximately $48,000. XTX Topco Ltd owned 0.48% of Gaxos.ai as of its most recent SEC filing. Institutional investors and hedge funds own 42.62% of the company’s stock.

Gaxos.ai Trading Up 18.1%

Shares of Gaxos.ai stock traded up $0.23 during trading on Friday, hitting $1.50. 1,462,377 shares of the stock traded hands, compared to its average volume of 6,213,284. Gaxos.ai has a 52-week low of $1.00 and a 52-week high of $2.96. The stock’s fifty day simple moving average is $1.18 and its 200 day simple moving average is $1.42. The firm has a market cap of $10.68 million, a P/E ratio of -3.57 and a beta of 1.09.

Gaxos.ai (NASDAQ:GXAI) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.14) earnings per share for the quarter. The firm had revenue of $0.50 million for the quarter. Gaxos.ai had a negative net margin of 549.60% and a negative return on equity of 25.08%.

Analysts Set New Price Targets

GXAI has been the subject of a number of research reports. Wall Street Zen downgraded shares of Gaxos.ai from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Gaxos.ai in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

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.