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

Nexalin Technology, Inc. (NASDAQ:NXL) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totaling 601,117 shares, an increase of 24.7% from the March 31st total of 481,971 shares. Currently, 3.9% of the shares of the stock are sold short. Based on an average trading volume of 1,844,311 shares, the days-to-cover ratio is currently 0.3 days.

Nexalin Technology Trading Up 2.4%

Shares of NASDAQ NXL traded up $0.01 during midday trading on Thursday, hitting $0.36. 84,966 shares of the company’s stock were exchanged, compared to its average volume of 1,041,213. The business’s fifty day moving average price is $0.42 and its two-hundred day moving average price is $0.74. The company has a market cap of $7.31 million, a price-to-earnings ratio of -0.70 and a beta of 4.18. Nexalin Technology has a 12-month low of $0.33 and a 12-month high of $2.00.

Nexalin Technology (NASDAQ:NXL) last announced its earnings results on Wednesday, March 25th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). Nexalin Technology had a negative net margin of 2,722.19% and a negative return on equity of 195.69%. The company had revenue of $0.17 million for the quarter, compared to the consensus estimate of $0.08 million.

Institutional Trading of Nexalin Technology

A number of hedge funds have recently made changes to their positions in the stock. PEAK6 LLC purchased a new position in Nexalin Technology in the fourth quarter worth $266,000. Renaissance Technologies LLC raised its position in Nexalin Technology by 119.2% during the fourth 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 in the last quarter. Geode Capital Management LLC lifted its stake in 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 purchasing an additional 28,454 shares during the last quarter. Finally, Susquehanna International Group LLP purchased a new position in shares of Nexalin Technology in the 3rd quarter worth about $57,000. 0.65% of the stock is owned by 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.