Short Interest in Nexalin Technology, Inc. (NASDAQ:NXL) Declines By 50.6%

Nexalin Technology, Inc. (NASDAQ:NXL) was the target of a significant decrease in short interest in the month of 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 trading volume, of 221,455 shares, the short-interest ratio is presently 1.5 days. Approximately 1.8% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nexalin Technology in a research report on Wednesday, July 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Nexalin Technology presently has a consensus rating of “Sell”.

Nexalin Technology Stock Performance

NASDAQ:NXL traded down $0.00 during trading hours on Tuesday, hitting $0.34. The stock had a trading volume of 33,919 shares, compared to its average volume of 503,941. The business’s 50 day moving average is $0.39 and its 200-day moving average is $0.42. The company has a market cap of $7.47 million, a price-to-earnings ratio of -0.71 and a beta of 4.00. Nexalin Technology has a one year low of $0.30 and a one year high of $2.00.

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

Institutional Investors Weigh In On Nexalin Technology

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of Nexalin Technology by 23.4% during the 4th quarter. Geode Capital Management LLC now owns 150,274 shares of the company’s stock valued at $84,000 after purchasing an additional 28,454 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in Nexalin Technology during the 3rd quarter worth approximately $57,000. Renaissance Technologies LLC lifted its stake in Nexalin Technology by 119.2% in the fourth quarter. Renaissance Technologies LLC now owns 122,100 shares of the company’s stock valued at $68,000 after buying an additional 66,400 shares in the last quarter. PEAK6 LLC acquired a new position in shares of Nexalin Technology in the second quarter valued at approximately $79,000. Finally, AWM Investment Company Inc. bought a new stake in shares of Nexalin Technology during the second quarter worth $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.