Nexalin Technology, Inc. (NASDAQ:NXL) Short Interest Down 96.0% in August

Nexalin Technology, Inc. (NASDAQ:NXL) saw a large decline in short interest in August. As of August 31st, there was short interest totaling 13,667 shares, a decline of 96.0% from the August 15th total of 342,208 shares. Approximately 2.2% of the shares of the stock are short sold. Based on an average trading volume of 9,976 shares, the days-to-cover ratio is presently 1.4 days.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Nexalin Technology from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Institutional Trading of Nexalin Technology

Several large investors have recently bought and sold shares of the business. PEAK6 LLC purchased a new position in Nexalin Technology in the 2nd quarter worth approximately $79,000. Renaissance Technologies LLC grew its position in shares of Nexalin Technology by 119.2% in the fourth quarter. Renaissance Technologies LLC now owns 122,100 shares of the company’s stock valued at $68,000 after purchasing an additional 66,400 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Nexalin Technology by 23.4% in the fourth quarter. Geode Capital Management LLC now owns 150,274 shares of the company’s stock valued at $84,000 after purchasing an additional 28,454 shares during the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in shares of Nexalin Technology in the third quarter valued at approximately $57,000. Hedge funds and other institutional investors own 0.65% of the company’s stock.

Nexalin Technology Stock Performance

Shares of NASDAQ:NXL traded down $0.07 during trading on Friday, reaching $4.80. The stock had a trading volume of 11,558 shares, compared to its average volume of 16,787. Nexalin Technology has a 1-year low of $4.51 and a 1-year high of $60.00. The stock has a market cap of $3.51 million, a PE ratio of -0.33 and a beta of 3.95. The business has a fifty day moving average price of $10.26 and a 200-day moving average price of $11.67.

Nexalin Technology (NASDAQ:NXL) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($3.00) by $2.89. Nexalin Technology had a negative return on equity of 278.24% and a negative net margin of 4,141.94%.The firm had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.09 million.

Nexalin Technology Company Profile

Nexalin Technology, Inc is a U.S.-based medical device company specializing in noninvasive neuromodulation therapies for mental health conditions. The company develops and markets the Nexalin® medical device platform, which delivers proprietary alternating current waveforms to targeted areas of the brain through forehead-mounted electrodes. Its technology is designed to modulate neural activity without pharmaceuticals, positioning the company within the growing field of digital therapeutics and neurostimulation.

The Nexalin device has received U.S.