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

Nexalin Technology, Inc. (NASDAQ:NXL) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 491,000 shares, an increase of 20.0% from the November 30th total of 409,300 shares. Currently, 4.7% of the company’s stock are short sold. Based on an average trading volume of 1,680,000 shares, the short-interest ratio is presently 0.3 days.

Nexalin Technology Price Performance

Shares of NXL stock traded down $0.06 during trading on Tuesday, reaching $2.76. The company had a trading volume of 383,569 shares, compared to its average volume of 1,359,389. The firm’s 50 day simple moving average is $3.41 and its two-hundred day simple moving average is $1.91. Nexalin Technology has a one year low of $0.25 and a one year high of $4.49. The company has a market capitalization of $36.72 million, a PE ratio of -4.31 and a beta of 3.78.

Nexalin Technology (NASDAQ:NXL) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.23) EPS for the quarter. Nexalin Technology had a negative net margin of 3,407.98% and a negative return on equity of 187.59%. The company had revenue of $0.04 million for the quarter.

Hedge Funds Weigh In On Nexalin Technology

An institutional investor recently bought a new position in Nexalin Technology stock. CVI Holdings LLC acquired a new position in shares of Nexalin Technology, Inc. (NASDAQ:NXL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 55,462 shares of the company’s stock, valued at approximately $94,000. CVI Holdings LLC owned approximately 0.52% of Nexalin Technology at the end of the most recent quarter. 0.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Maxim Group reaffirmed a “hold” rating on shares of Nexalin Technology in a research note 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.