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

Nexalin Technology, Inc. (NASDAQ:NXL) was the recipient of a significant decline in short interest in the month of June. As of June 15th, there was short interest totaling 423,383 shares, a decline of 64.1% from the May 31st total of 1,180,877 shares. Based on an average trading volume of 301,490 shares, the days-to-cover ratio is presently 1.4 days. Currently, 2.8% of the company’s shares are sold short.

Nexalin Technology Stock Down 3.7%

Shares of Nexalin Technology stock traded down $0.01 during trading on Tuesday, reaching $0.33. 99,714 shares of the stock were exchanged, compared to its average volume of 583,187. The stock’s fifty day moving average is $0.41 and its 200 day moving average is $0.50. The firm has a market cap of $6.79 million, a price-to-earnings ratio of -0.70 and a beta of 3.79. Nexalin Technology has a 1 year low of $0.30 and a 1 year high of $2.00.

Nexalin Technology (NASDAQ:NXL) last posted its earnings results on Friday, May 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The business had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.01 million. Nexalin Technology had a negative return on equity of 191.88% and a negative net margin of 3,018.12%.

Hedge Funds Weigh In On Nexalin Technology

Several hedge funds have recently made changes to their positions in the business. PEAK6 LLC purchased a new stake in Nexalin Technology in the fourth quarter worth $266,000. Geode Capital Management LLC increased its position in Nexalin Technology by 23.4% during the 4th quarter. Geode Capital Management LLC now owns 150,274 shares of the company’s stock valued at $84,000 after purchasing an additional 28,454 shares during the period. Renaissance Technologies LLC increased its position in Nexalin Technology by 119.2% during the 4th quarter. Renaissance Technologies LLC now owns 122,100 shares of the company’s stock valued at $68,000 after purchasing an additional 66,400 shares during the period. Finally, Susquehanna International Group LLP bought a new position in Nexalin Technology in the 3rd quarter worth $57,000. 0.65% of the stock is owned by hedge funds and other institutional investors.

About Nexalin Technology

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.