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

Nexalin Technology, Inc. (NASDAQ:NXL) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 278,300 shares, a drop of 21.3% from the February 28th total of 353,700 shares. Approximately 2.6% of the company’s shares are short sold. Based on an average daily trading volume, of 318,500 shares, the short-interest ratio is presently 0.9 days.

Nexalin Technology Stock Down 2.6 %

Shares of NASDAQ NXL traded down $0.05 during trading on Tuesday, reaching $1.90. 182,693 shares of the stock were exchanged, compared to its average volume of 1,292,171. The business’s 50-day moving average price is $2.67 and its 200 day moving average price is $2.61. The company has a market capitalization of $25.28 million, a price-to-earnings ratio of -2.97 and a beta of 4.33. Nexalin Technology has a twelve month low of $0.53 and a twelve month high of $4.49.

Nexalin Technology (NASDAQ:NXL) last issued its quarterly earnings results on Friday, March 14th. The company reported ($0.28) EPS for the quarter. Nexalin Technology had a negative net margin of 3,407.98% and a negative return on equity of 187.59%. The business had revenue of $0.03 million during the quarter.

Hedge Funds Weigh In On Nexalin Technology

Hedge funds have recently bought and sold shares of the company. Drive Wealth Management LLC acquired a new stake in Nexalin Technology during the fourth quarter worth about $55,000. Kingsview Wealth Management LLC bought a new stake in shares of Nexalin Technology in the 4th quarter worth approximately $28,000. Geode Capital Management LLC increased its position in Nexalin Technology by 36.3% in the fourth quarter. Geode Capital Management LLC now owns 107,241 shares of the company’s stock worth $296,000 after buying an additional 28,544 shares during the period. XTX Topco Ltd bought a new position in shares of Nexalin Technology during the fourth quarter worth about $46,000. Finally, Northern Trust Corp bought a new position in Nexalin Technology in the 4th quarter worth about $36,000. 0.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Maxim Group raised Nexalin Technology from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a research report on Monday, March 24th.

About Nexalin Technology

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.