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

Nexalin Technology, Inc. (NASDAQ:NXL) saw a significant decrease in short interest during the month of December. As of December 15th, there was short interest totaling 50,851 shares, a decrease of 51.4% from the November 30th total of 104,655 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average daily volume of 127,930 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily volume of 127,930 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.4% of the shares of the company are short sold.

Nexalin Technology Price Performance

NXL stock traded down $0.03 during midday trading on Monday, hitting $0.60. The stock had a trading volume of 357,027 shares, compared to its average volume of 1,251,938. The business has a 50-day moving average of $1.12 and a two-hundred day moving average of $1.04. The firm has a market cap of $11.14 million, a price-to-earnings ratio of -0.90 and a beta of 3.75. Nexalin Technology has a 52-week low of $0.58 and a 52-week high of $3.87.

Nexalin Technology (NASDAQ:NXL) last released its earnings results on Friday, November 14th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The company had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.04 million. Nexalin Technology had a negative return on equity of 207.46% and a negative net margin of 5,527.39%.

Institutional Investors Weigh In On Nexalin Technology

A hedge fund recently bought a new stake in Nexalin Technology stock. Susquehanna International Group LLP bought a new position in Nexalin Technology, Inc. (NASDAQ:NXL) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 62,498 shares of the company’s stock, valued at approximately $57,000. Susquehanna International Group LLP owned 0.35% of Nexalin Technology as of its most recent filing with the SEC. Hedge funds and other institutional investors own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NXL shares. Weiss Ratings restated a “sell (d-)” rating on shares of Nexalin Technology in a research note on Monday, December 22nd. Wall Street Zen lowered Nexalin Technology from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Nexalin Technology has a consensus rating of “Hold” and an average target price of $5.00.

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.