Nexalin Technology, Inc. (NASDAQ:NXL) Short Interest Down 30.0% in February

Nexalin Technology, Inc. (NASDAQ:NXL) was the target of a significant drop in short interest in February. As of February 15th, there was short interest totalling 355,900 shares, a drop of 30.0% from the January 31st total of 508,600 shares. Based on an average daily volume of 437,200 shares, the short-interest ratio is currently 0.8 days. Approximately 3.4% of the shares of the stock are sold short.

Nexalin Technology Stock Up 0.4 %

Shares of NXL traded up $0.01 during trading hours on Tuesday, hitting $2.43. The company had a trading volume of 164,761 shares, compared to its average volume of 1,426,569. The firm has a market cap of $32.33 million, a P/E ratio of -3.80 and a beta of 4.20. The stock’s 50 day moving average price is $2.96 and its 200 day moving average price is $2.43. Nexalin Technology has a 52-week low of $0.30 and a 52-week high of $4.49.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NXL. Kingsview Wealth Management LLC bought a new stake in shares of Nexalin Technology in the fourth quarter worth about $28,000. Jane Street Group LLC bought a new stake in shares of Nexalin Technology in the fourth quarter worth about $28,000. Northern Trust Corp bought a new stake in shares of Nexalin Technology in the fourth quarter worth about $36,000. XTX Topco Ltd bought a new stake in shares of Nexalin Technology in the fourth quarter worth about $46,000. Finally, Drive Wealth Management LLC bought a new stake in shares of Nexalin Technology in the fourth quarter worth about $55,000. Hedge funds and other institutional investors own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Maxim Group restated a “hold” rating on shares of Nexalin Technology in a research report on Thursday, December 5th.

About Nexalin Technology

Nexalin Technology, Inc, a medical device company, designs and develops neurostimulation products for the treatment of mental health in the United States and China. The company designs and develops Generation 2 and Generation 3, that is in clinical trials for the treatment of substance abuse issues related to opiate, cocaine, alcohol abuse, alzheimer's disease, and dementia.