Short Interest in Nexalin Technology, Inc. (NASDAQ:NXL) Rises By 1,281.2%

Nexalin Technology, Inc. (NASDAQ:NXL) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 1,290,000 shares, an increase of 1,281.2% from the October 15th total of 93,400 shares. Based on an average daily trading volume, of 1,440,000 shares, the short-interest ratio is currently 0.9 days. Approximately 16.0% of the company’s shares are sold short.

Nexalin Technology Trading Up 13.2 %

Shares of NXL stock traded up $0.44 during trading hours on Tuesday, hitting $3.78. 1,273,258 shares of the company were exchanged, compared to its average volume of 1,470,113. The company has a market capitalization of $40.02 million, a PE ratio of -5.72 and a beta of 3.50. Nexalin Technology has a 52 week low of $0.25 and a 52 week high of $4.05. The business has a 50 day moving average of $1.34 and a two-hundred day moving average of $1.25.

Nexalin Technology (NASDAQ:NXL) last issued its quarterly earnings results on Friday, November 8th. The company reported ($0.23) EPS for the quarter. The firm had revenue of $0.04 million during the quarter. Nexalin Technology had a negative net margin of 3,578.81% and a negative return on equity of 213.51%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Nexalin Technology

An institutional investor recently bought a new position in Nexalin Technology stock. CVI Holdings LLC acquired a new stake in Nexalin Technology, Inc. (NASDAQ:NXL) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 55,462 shares of the company’s stock, valued at approximately $94,000. CVI Holdings LLC owned about 0.52% of Nexalin Technology as of its most recent SEC filing. 0.65% of the stock is currently owned by institutional investors and hedge funds.

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.