Nexus Advanced Technologies Inc. (NASDAQ:NXAT) Shares Shorted: Short Interest Up 402.3% in October

Nexus Advanced Technologies Inc. (NASDAQ:NXAT) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 22,734 shares, a growth of 402.3% from the September 30th total of 4,526 shares. Approximately 2.4% of the shares of the company are sold short. Based on an average daily volume of 2,423,541 shares, the short-interest ratio is currently 0.0 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Nexus Advanced Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 9th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Nexus Advanced Technologies Price Performance

Shares of NASDAQ:NXAT traded down $0.01 during midday trading on Tuesday, hitting $0.34. The company had a trading volume of 109,049 shares, compared to its average volume of 262,151. The company has a market cap of $921,671.00, a price-to-earnings ratio of -0.38 and a beta of 0.47. Nexus Advanced Technologies has a 12-month low of $0.33 and a 12-month high of $63.30. The company has a fifty day moving average of $1.41 and a two-hundred day moving average of $9.55.

Hedge Funds Weigh In On Nexus Advanced Technologies

An institutional investor recently bought a new position in Nexus Advanced Technologies stock. Citadel Advisors LLC purchased a new stake in shares of Nexus Advanced Technologies Inc. (NASDAQ:NXAT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 177,235 shares of the company’s stock, valued at approximately $26,000. Citadel Advisors LLC owned 6.54% of Nexus Advanced Technologies as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 62.18% of the company’s stock.

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.