Gaxos.ai Inc. (NASDAQ:GXAI) Short Interest Down 55.2% in July

Gaxos.ai Inc. (NASDAQ:GXAI) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 69,161 shares, a decrease of 55.2% from the July 15th total of 154,456 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 273,130 shares, the days-to-cover ratio is currently 0.3 days.

Wall Street Analyst Weigh In

Several analysts have commented on GXAI shares. Wall Street Zen raised shares of Gaxos.ai from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings lowered shares of Gaxos.ai from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Gaxos.ai has a consensus rating of “Sell”.

Institutional Investors Weigh In On Gaxos.ai

A number of hedge funds and other institutional investors have recently bought and sold shares of GXAI. DRW Securities LLC purchased a new position in Gaxos.ai during the 4th quarter valued at about $213,000. Two Sigma Investments LP bought a new stake in shares of Gaxos.ai during the third quarter valued at about $90,000. Finally, XTX Topco Ltd lifted its holdings in shares of Gaxos.ai by 197.4% in the fourth quarter. XTX Topco Ltd now owns 44,811 shares of the company’s stock worth $48,000 after buying an additional 29,745 shares in the last quarter. Institutional investors own 42.62% of the company’s stock.

Gaxos.ai Stock Up 2.3%

GXAI traded up $0.02 during trading hours on Monday, hitting $0.85. The stock had a trading volume of 2,838,452 shares, compared to its average volume of 6,487,597. The company’s fifty day simple moving average is $1.07 and its 200 day simple moving average is $1.21. Gaxos.ai has a 1 year low of $0.73 and a 1 year high of $2.96. The stock has a market cap of $6.05 million, a PE ratio of -1.70 and a beta of 0.94.

Gaxos.ai (NASDAQ:GXAI) last released its quarterly earnings data on Wednesday, August 12th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.15) by $0.17. The business had revenue of $2.46 million for the quarter, compared to the consensus estimate of $1.80 million. Gaxos.ai had a negative net margin of 64.81% and a negative return on equity of 38.79%. As a group, equities analysts expect that Gaxos.ai will post -0.64 EPS for the current year.

Gaxos.ai declared that its board has approved a stock buyback program on Monday, August 3rd that allows the company to repurchase $1,000.00 billion in shares. This repurchase authorization allows the company to purchase up to 18,726,591.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Gaxos.ai Company Profile

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.