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

Nexalin Technology, Inc. (NASDAQ:NXL) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 93,400 shares, a growth of 31.4% from the September 30th total of 71,100 shares. Based on an average trading volume of 683,500 shares, the days-to-cover ratio is currently 0.1 days. Currently, 1.2% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, Maxim Group assumed coverage on Nexalin Technology in a report on Wednesday, October 9th. They set a “buy” rating and a $3.00 target price for the company.

Institutional Trading of Nexalin Technology

An institutional investor recently bought a new position in Nexalin Technology stock. CVI Holdings LLC bought a new position in shares of Nexalin Technology, Inc. (NASDAQ:NXL) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 55,462 shares of the company’s stock, valued at approximately $94,000. CVI Holdings LLC owned 0.52% of Nexalin Technology at the end of the most recent quarter. Hedge funds and other institutional investors own 0.65% of the company’s stock.

Nexalin Technology Stock Performance

NASDAQ NXL traded up $0.41 on Tuesday, reaching $2.61. The stock had a trading volume of 8,299,824 shares, compared to its average volume of 1,443,725. Nexalin Technology has a 12-month low of $0.25 and a 12-month high of $4.05. The business’s 50-day moving average price is $0.94 and its 200 day moving average price is $1.16. The stock has a market cap of $27.64 million, a P/E ratio of -3.31 and a beta of 5.67.

Nexalin Technology (NASDAQ:NXL) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.17) earnings per share for the quarter. Nexalin Technology had a negative return on equity of 213.51% and a negative net margin of 3,578.81%. The business had revenue of $0.03 million for the quarter.

Nexalin Technology Company Profile

Nexalin Technology, Inc, a medical device company, designs and develops neurostimulation products for the treatment of mental health in the United States and China. The company designs and develops Generation 2 and Generation 3, that is in clinical trials for the treatment of substance abuse issues related to opiate, cocaine, alcohol abuse, alzheimer's disease, and dementia.