Gaxos.ai Inc. (NASDAQ:GXAI) Short Interest Up 50.4% in March

Gaxos.ai Inc. (NASDAQ:GXAI) was the recipient of a large growth in short interest in March. As of March 13th, there was short interest totaling 423,663 shares, a growth of 50.4% from the February 26th total of 281,658 shares. Based on an average daily volume of 25,838,543 shares, the days-to-cover ratio is presently 0.0 days. Currently, 6.2% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Wall Street Zen cut Gaxos.ai to a “strong sell” rating in a report on Saturday, March 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Gaxos.ai in a research report on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. DRW Securities LLC bought a new stake in shares of Gaxos.ai during the 4th quarter valued at about $213,000. Two Sigma Investments LP bought a new stake in Gaxos.ai during the 3rd quarter valued at approximately $90,000. Finally, XTX Topco Ltd purchased a new position in shares of Gaxos.ai during the 2nd quarter worth approximately $48,000. 42.62% of the stock is currently owned by institutional investors.

Gaxos.ai Stock Performance

NASDAQ GXAI traded down $0.11 during trading on Friday, hitting $1.20. 772,454 shares of the company’s stock traded hands, compared to its average volume of 14,017,725. The stock has a fifty day moving average of $1.32 and a two-hundred day moving average of $1.39. Gaxos.ai has a 12-month low of $1.00 and a 12-month high of $2.96.

Gaxos.ai (NASDAQ:GXAI) last released its quarterly earnings data on Tuesday, March 17th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.03. Gaxos.ai had a negative return on equity of 27.61% and a negative net margin of 203.88%.The firm had revenue of $1.24 million for the quarter.

About Gaxos.ai

Gaxos.ai Inc engages in developing artificial intelligence applications for various sectors. Its portfolio includes applications in mental and physical wellbeing, coaching, and gaming. In addition, it offers Gaxos, a gaming platform develop, design, acquire, and manage conventional games and combine these games with unconventional game mechanisms. The company was formerly known as The NFT Gaming Company, Inc and changed its name to Gaxos.ai Inc in January 2024. Gaxos.ai Inc was incorporated in 2021 and is based in Roseland, New Jersey.