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

Nexalin Technology, Inc. (NASDAQ:NXL) was the recipient of a large decrease in short interest in July. As of July 31st, there was short interest totaling 323,373 shares, a decrease of 50.6% from the July 15th total of 654,993 shares. Based on an average daily volume of 221,455 shares, the short-interest ratio is presently 1.5 days. Approximately 1.8% of the company’s stock are short sold.

Nexalin Technology Stock Down 0.1%

Shares of NXL traded down $0.00 during mid-day trading on Friday, reaching $0.35. 66,578 shares of the stock traded hands, compared to its average volume of 187,548. The firm has a market cap of $7.71 million, a price-to-earnings ratio of -0.73 and a beta of 4.00. The stock has a fifty day simple moving average of $0.39 and a 200 day simple moving average of $0.43. Nexalin Technology has a 12-month low of $0.30 and a 12-month high of $2.00.

Nexalin Technology (NASDAQ:NXL) last posted its earnings results on Wednesday, August 12th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The firm had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.09 million. Nexalin Technology had a negative return on equity of 278.24% and a negative net margin of 4,141.94%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Nexalin Technology in a research note on Wednesday, July 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Hedge Funds Weigh In On Nexalin Technology

A number of institutional investors have recently added to or reduced their stakes in NXL. Susquehanna International Group LLP purchased a new position in Nexalin Technology in the 3rd quarter valued at about $57,000. Geode Capital Management LLC increased its position in shares of Nexalin Technology by 23.4% during the fourth quarter. Geode Capital Management LLC now owns 150,274 shares of the company’s stock worth $84,000 after acquiring an additional 28,454 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Nexalin Technology by 119.2% during the fourth 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. PEAK6 LLC purchased a new stake in shares of Nexalin Technology during the fourth quarter worth about $266,000. Finally, AWM Investment Company Inc. acquired a new position in shares of Nexalin Technology in the second quarter worth about $18,135,000. Institutional investors and hedge funds own 0.65% of the company’s stock.

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.