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

Nexalin Technology, Inc. (NASDAQ:NXL) was the target of a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 568,576 shares, a growth of 286.2% from the January 29th total of 147,226 shares. Approximately 4.1% of the shares of the stock are sold short. Based on an average trading volume of 849,769 shares, the days-to-cover ratio is presently 0.7 days. Based on an average trading volume of 849,769 shares, the days-to-cover ratio is presently 0.7 days. Approximately 4.1% of the shares of the stock are sold short.

Institutional Trading of Nexalin Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Susquehanna International Group LLP bought a new position in Nexalin Technology during the third quarter valued at $57,000. Renaissance Technologies LLC lifted its holdings in shares of Nexalin Technology by 119.2% in the 4th quarter. Renaissance Technologies LLC now owns 122,100 shares of the company’s stock worth $68,000 after acquiring an additional 66,400 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Nexalin Technology by 23.4% during the 4th quarter. Geode Capital Management LLC now owns 150,274 shares of the company’s stock worth $84,000 after purchasing an additional 28,454 shares during the period. Finally, PEAK6 LLC bought a new position in Nexalin Technology during the 4th quarter valued at about $266,000. Hedge funds and other institutional investors own 0.65% of the company’s stock.

Analyst Ratings Changes

NXL has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Nexalin Technology in a research note on Monday, December 29th. Wall Street Zen cut Nexalin Technology from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.00.

Nexalin Technology Trading Down 10.0%

NXL traded down $0.05 during trading on Friday, hitting $0.47. 202,159 shares of the company traded hands, compared to its average volume of 412,725. Nexalin Technology has a 1 year low of $0.37 and a 1 year high of $2.79. The stock’s 50-day simple moving average is $0.60 and its two-hundred day simple moving average is $0.90. The company has a market cap of $8.77 million, a PE ratio of -0.71 and a beta of 3.95.

Nexalin Technology Company Profile

Nexalin Technology, Inc is a U.S.-based medical device company specializing in noninvasive neuromodulation therapies for mental health conditions. The company develops and markets the Nexalin® medical device platform, which delivers proprietary alternating current waveforms to targeted areas of the brain through forehead-mounted electrodes. Its technology is designed to modulate neural activity without pharmaceuticals, positioning the company within the growing field of digital therapeutics and neurostimulation.

The Nexalin device has received U.S.