Nyxoah SA (NASDAQ:NYXH) Sees Large Decline in Short Interest

Nyxoah SA (NASDAQ:NYXH) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 213,619 shares, a drop of 33.7% from the September 30th total of 322,282 shares. Based on an average trading volume of 102,686 shares, the short-interest ratio is currently 2.1 days. Approximately 0.6% of the company’s shares are short sold.

Hedge Funds Weigh In On Nyxoah

Several institutional investors have recently added to or reduced their stakes in the stock. AIGH Capital Management LLC raised its stake in Nyxoah by 0.7% during the 3rd quarter. AIGH Capital Management LLC now owns 14,632,880 shares of the company’s stock valued at $20,193,000 after acquiring an additional 98,000 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Nyxoah in the 2nd quarter valued at approximately $169,000. IFP Advisors Inc increased its holdings in shares of Nyxoah by 35.6% in the second quarter. IFP Advisors Inc now owns 118,426 shares of the company’s stock valued at $200,000 after purchasing an additional 31,061 shares during the period. Finally, Readystate Asset Management LP acquired a new position in shares of Nyxoah in the second quarter valued at approximately $351,000.

Nyxoah Stock Down 1.1%

NYXH stock opened at $0.87 on Wednesday. The company has a market cap of $33.72 million, a price-to-earnings ratio of -0.35 and a beta of 1.80. The company has a fifty day moving average price of $1.32 and a 200 day moving average price of $2.48. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.38 and a quick ratio of 2.31. Nyxoah has a 12 month low of $0.80 and a 12 month high of $5.92.

Nyxoah (NASDAQ:NYXH) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.20). Nyxoah had a negative return on equity of 178.90% and a negative net margin of 443.16%. The business had revenue of $8.76 million for the quarter, compared to analysts’ expectations of $8.64 million. Sell-side analysts expect that Nyxoah will post -1.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NYXH. Raymond James Financial set a $3.00 target price on shares of Nyxoah in a report on Tuesday, October 27th. Robert W. Baird set a $2.31 target price on shares of Nyxoah in a report on Thursday, August 6th. Oppenheimer set a $4.00 price target on shares of Nyxoah in a research note on Thursday, August 6th. Piper Sandler reissued an “overweight” rating and issued a $6.00 price target (down from $7.00) on shares of Nyxoah in a research report on Thursday, August 6th. Finally, Wall Street Zen downgraded shares of Nyxoah from a “hold” rating to a “sell” rating in a research note on Sunday, August 9th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Nyxoah currently has a consensus rating of “Hold” and an average price target of $3.55.

Nyxoah Company Profile

Nyxoah SA is a medical technology company focused on developing and commercializing solutions for obstructive sleep apnea (OSA), a common sleep-related breathing disorder. The company is headquartered in Mont-Saint-Guibert, Belgium, and its shares trade on the Nasdaq under the symbol NYXH.

Nyxoah’s principal product is the Genio system, an implantable, rechargeable device designed to treat OSA through hypoglossal nerve stimulation. The system is intended to help maintain an open airway during sleep by stimulating the nerves that control the tongue and related upper-airway muscles.