Nexus Advanced Technologies Inc. (NASDAQ:NXAT) Stock Short Interest Falls 91.0%

Nexus Advanced Technologies Inc. (NASDAQ:NXAT) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totaling 4,526 shares, a drop of 91.0% from the September 15th total of 50,332 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average daily volume of 47,062 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of Nexus Advanced Technologies

An institutional investor recently bought a new position in Nexus Advanced Technologies stock. Anson Funds Management LP purchased a new position in shares of Nexus Advanced Technologies Inc. (NASDAQ:NXAT) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,823,333 shares of the company’s stock, valued at approximately $1,984,000. Anson Funds Management LP owned approximately 6.05% of Nexus Advanced Technologies as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 62.18% of the company’s stock.

Nexus Advanced Technologies Price Performance

Shares of Nexus Advanced Technologies stock traded up $0.02 during trading on Friday, hitting $0.65. 1,270,088 shares of the stock traded hands, compared to its average volume of 1,374,052. The firm’s fifty day moving average is $1.78 and its 200-day moving average is $5.98. Nexus Advanced Technologies has a 52 week low of $0.60 and a 52 week high of $99.90.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Nexus Advanced Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company has an average rating of “Sell”.

About Nexus Advanced Technologies

Nexus Advanced Technologies Inc is a company pursuing strategic investments, acquisitions and partnerships across AI infrastructure and advanced technologies. Nexus Advanced Technologies Inc, formerly known as K Wave Media Ltd., is based in NEW YORK.