Nexalin Technology, Inc. (NASDAQ:NXL) Stock Short Interest Report for October

Nexalin Technology, Inc. (NASDAQ:NXL) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 4,482 shares, a decrease of 65.7% from the September 30th total of 13,067 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average daily volume of 5,740,341 shares, the days-to-cover ratio is presently 0.0 days.

Nexalin Technology Price Performance

Shares of NASDAQ NXL remained flat at $1.63 during midday trading on Thursday. The stock had a trading volume of 11,439 shares, compared to its average volume of 330,392. The company has a market cap of $1.20 million, a P/E ratio of -0.11 and a beta of 4.08. Nexalin Technology has a fifty-two week low of $1.59 and a fifty-two week high of $49.50. The business has a fifty day moving average of $4.94 and a two-hundred day moving average of $11.19.

Nexalin Technology (NASDAQ:NXL) last posted its earnings results on Wednesday, August 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.00) by $2.89. The firm had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.09 million. Nexalin Technology had a negative net margin of 4,141.94% and a negative return on equity of 278.24%. On average, sell-side analysts anticipate that Nexalin Technology will post -11.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NXL. Zacks Research raised Nexalin Technology to a “hold” rating in a research note on Thursday, October 1st. Weiss Ratings downgraded shares of Nexalin Technology from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, September 25th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce”.

Institutional Trading of Nexalin Technology

An institutional investor recently bought a new stake in Nexalin Technology stock. PEAK6 LLC acquired a new stake in Nexalin Technology, Inc. (NASDAQ:NXL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 240,210 shares of the company’s stock, valued at approximately $79,000. PEAK6 LLC owned 1.09% of Nexalin Technology at the end of the most recent reporting period. 0.65% of the stock is owned by hedge funds and other institutional investors.

About Nexalin Technology

Nexalin Technology, Inc (NASDAQ:NXL) is a medical technology company focused on developing and commercializing noninvasive neurostimulation devices for mental health and neurological applications. Its technology is designed to deliver low-intensity electrical stimulation to the brain with the goal of influencing neural activity associated with conditions such as depression, anxiety, insomnia, post-traumatic stress disorder and substance-use disorders.

The company’s product portfolio includes the Gen-2 and Gen-3 neurostimulation systems.