CXApp Inc. (NASDAQ:CXAI) Sees Significant Decline in Short Interest

CXApp Inc. (NASDAQ:CXAI) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totaling 156,249 shares, a decrease of 35.6% from the September 15th total of 242,776 shares. Approximately 6.9% of the shares of the company are sold short. Based on an average trading volume of 66,760 shares, the short-interest ratio is presently 2.3 days.

Institutional Inflows and Outflows

A hedge fund recently raised its position in CXApp stock. Renaissance Technologies LLC increased its holdings in CXApp Inc. (NASDAQ:CXAI) by 242.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 371,754 shares of the company’s stock after buying an additional 263,154 shares during the period. Renaissance Technologies LLC owned about 0.65% of CXApp worth $67,000 as of its most recent SEC filing. 14.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of CXApp in a report on Thursday. Wall Street Zen cut shares of CXApp from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock has an average rating of “Sell”.

CXApp Price Performance

CXAI stock opened at $1.92 on Friday. The firm has a 50 day moving average of $3.39 and a 200-day moving average of $6.79. CXApp has a 12-month low of $1.75 and a 12-month high of $41.00. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.56. The company has a market cap of $4.49 million, a price-to-earnings ratio of -0.07 and a beta of 0.97.

CXApp (NASDAQ:CXAI) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($3.00) by $2.90. The business had revenue of $1.69 million for the quarter, compared to analyst estimates of $1.15 million. CXApp had a negative return on equity of 135.04% and a negative net margin of 446.46%.

About CXApp

CXApp Inc (NASDAQ: CXAI) develops an employee experience and workplace management platform designed to help organizations support hybrid and in-office work. Its cloud-based software brings workplace information, services and communications together in a centralized digital environment accessible through mobile and web applications.

The CXApp platform offers tools for employee engagement, workplace communications, office and desk booking, meeting-room scheduling, event management, indoor navigation and wayfinding, and workplace analytics.