Gaxos.ai Inc. (NASDAQ:GXAI) Sees Significant Drop in Short Interest

Gaxos.ai Inc. (NASDAQ:GXAI) was the target of a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 297,438 shares, a drop of 56.5% from the January 29th total of 683,583 shares. Based on an average daily volume of 20,192,278 shares, the days-to-cover ratio is presently 0.0 days. Approximately 4.3% of the company’s shares are short sold. Approximately 4.3% of the company’s shares are short sold. Based on an average daily volume of 20,192,278 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analysts Forecast Growth

GXAI has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Gaxos.ai from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Gaxos.ai in a research note on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Institutional Investors Weigh In On Gaxos.ai

Several hedge funds have recently modified their holdings of GXAI. DRW Securities LLC purchased a new position in Gaxos.ai during the fourth quarter valued at approximately $213,000. Two Sigma Investments LP bought a new stake in Gaxos.ai during the 3rd quarter valued at $90,000. Finally, XTX Topco Ltd boosted its position in Gaxos.ai by 197.4% during the 4th quarter. XTX Topco Ltd now owns 44,811 shares of the company’s stock valued at $48,000 after acquiring an additional 29,745 shares in the last quarter. Hedge funds and other institutional investors own 42.62% of the company’s stock.

Gaxos.ai Stock Up 2.7%

Shares of GXAI stock traded up $0.03 on Friday, hitting $1.14. The stock had a trading volume of 800,938 shares, compared to its average volume of 15,610,190. Gaxos.ai has a one year low of $1.00 and a one year high of $2.96. The business has a 50 day moving average price of $1.22 and a 200 day moving average price of $1.43. The company has a market cap of $8.12 million, a PE ratio of -2.71 and a beta of 1.05.

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.