Incannex Healthcare Inc. (NASDAQ:IXHL) Short Interest Update

Incannex Healthcare Inc. (NASDAQ:IXHL) was the recipient of a significant drop in short interest in February. As of February 15th, there was short interest totalling 89,500 shares, a drop of 19.2% from the January 31st total of 110,700 shares. Based on an average daily trading volume, of 54,400 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.7% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of IXHL. Jane Street Group LLC acquired a new stake in shares of Incannex Healthcare during the fourth quarter valued at about $100,000. AdvisorShares Investments LLC increased its position in shares of Incannex Healthcare by 30.3% during the fourth quarter. AdvisorShares Investments LLC now owns 165,495 shares of the company’s stock valued at $351,000 after acquiring an additional 38,505 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Incannex Healthcare during the third quarter valued at about $73,000. Institutional investors and hedge funds own 0.43% of the company’s stock.

Incannex Healthcare Trading Down 3.3 %

Shares of IXHL traded down $0.04 during mid-day trading on Tuesday, reaching $1.17. The stock had a trading volume of 11,766 shares, compared to its average volume of 44,497. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.80 and a quick ratio of 1.65. Incannex Healthcare has a 52-week low of $1.15 and a 52-week high of $5.34. The business’s fifty day moving average is $1.79 and its 200 day moving average is $1.88. The firm has a market cap of $20.90 million, a price-to-earnings ratio of -0.84 and a beta of 7.44.

Incannex Healthcare (NASDAQ:IXHL) last posted its earnings results on Friday, February 14th. The company reported ($0.33) EPS for the quarter. The business had revenue of $10 billion during the quarter.

About Incannex Healthcare

Incannex Healthcare Inc, a clinical stage pharmaceutical development company, engages in the research, development, and sale of medicinal cannabinoid and psychedelic pharmaceutical products and therapies. It develops products for the treatment of obstructive sleep apnoea (OSA), traumatic brain injury (TBI) and concussion, lung inflammation (ARDS, COPD, asthma, bronchitis), rheumatoid arthritis, inflammatory bowel disease, anxiety disorders, addiction disorders, pain, and other indications.