Gaxos.ai Inc. (NASDAQ:GXAI) Sees Large Increase in Short Interest

Gaxos.ai Inc. (NASDAQ:GXAI) was the recipient of a significant increase in short interest in May. As of May 31st, there was short interest totalling 135,800 shares, an increase of 42.6% from the May 15th total of 95,200 shares. Currently, 2.1% of the shares of the stock are short sold. Based on an average daily volume of 143,700 shares, the short-interest ratio is presently 0.9 days.

Gaxos.ai Trading Up 4.0%

Shares of Gaxos.ai stock traded up $0.05 during trading on Monday, reaching $1.29. 83,787 shares of the stock traded hands, compared to its average volume of 2,256,507. Gaxos.ai has a 52-week low of $1.00 and a 52-week high of $7.50. The business has a fifty day simple moving average of $1.24 and a two-hundred day simple moving average of $1.65.

Gaxos.ai (NASDAQ:GXAI) last released its quarterly earnings results on Thursday, May 15th. The company reported ($0.17) earnings per share for the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC raised its stake in Gaxos.ai by 151.8% during the fourth quarter. Virtu Financial LLC now owns 29,296 shares of the company’s stock valued at $75,000 after purchasing an additional 17,663 shares in the last quarter. Thoroughbred Financial Services LLC bought a new stake in shares of Gaxos.ai in the 4th quarter worth about $39,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Gaxos.ai in the 4th quarter worth about $29,000. 42.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Gaxos.ai from a “hold” rating to a “sell” rating in a report on Friday, June 6th.

Gaxos.ai Company Profile

Gaxos.ai Inc engages in developing artificial intelligence applications for various sectors. Its portfolio includes applications in mental and physical wellbeing, coaching, and gaming. In addition, it offers Gaxos, a gaming platform develop, design, acquire, and manage conventional games and combine these games with unconventional game mechanisms.