Nexalin Technology, Inc. (NASDAQ:NXL) Short Interest Up 31.4% in October

by · The Markets Daily

Nexalin Technology, Inc. (NASDAQ:NXL – Get Free Report) was the recipient of a significant growth in short interest during 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 short-interest ratio is currently 0.1 days. Currently, 1.2% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, Maxim Group started coverage on Nexalin Technology in a report on Wednesday, October 9th. They issued a “buy” rating and a $3.00 price target on the stock.

Check Out Our Latest Research Report on NXL

Nexalin Technology Stock Performance

Shares of NXL traded up $0.41 during midday trading on Tuesday, hitting $2.61. 8,299,824 shares of the stock traded hands, compared to its average volume of 1,443,725. The business’s 50 day moving average price is $0.97 and its two-hundred day moving average price is $1.16. The firm has a market capitalization of $27.64 million, a PE ratio of -3.62 and a beta of 5.67. Nexalin Technology has a 1-year low of $0.25 and a 1-year high of $4.05.

Nexalin Technology (NASDAQ:NXL – Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported ($0.17) earnings per share (EPS) for the quarter. Nexalin Technology had a negative net margin of 3,578.81% and a negative return on equity of 213.51%. The firm had revenue of $0.03 million for the quarter.

Institutional Trading of Nexalin Technology

A hedge fund recently bought a new stake in Nexalin Technology stock. CVI Holdings LLC purchased a new stake in shares of Nexalin Technology, Inc. (NASDAQ:NXL – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 55,462 shares of the company’s stock, valued at approximately $94,000. CVI Holdings LLC owned 0.52% of Nexalin Technology as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 0.65% of the company’s stock.

Nexalin Technology Company Profile

(Get Free Report)

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.

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