Gaxos.ai Inc. (NASDAQ:GXAI) Short Interest Update

Gaxos.ai Inc. (NASDAQ:GXAI) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 411,293 shares, a decline of 71.2% from the August 15th total of 1,428,202 shares. Based on an average daily volume of 768,413 shares, the short-interest ratio is presently 0.5 days. Currently, 6.0% of the company’s stock are sold short.

Gaxos.ai Stock Performance

NASDAQ:GXAI traded down $0.03 during mid-day trading on Monday, hitting $0.65. 273,717 shares of the company’s stock traded hands, compared to its average volume of 5,828,756. The company has a fifty day moving average of $0.91 and a 200 day moving average of $1.14. Gaxos.ai has a twelve month low of $0.64 and a twelve month high of $2.63. The company has a market capitalization of $4.62 million, a P/E ratio of -1.30 and a beta of 0.96.

Gaxos.ai (NASDAQ:GXAI) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.17. Gaxos.ai had a negative return on equity of 38.79% and a negative net margin of 64.81%.The business had revenue of $2.46 million during the quarter, compared to the consensus estimate of $1.80 million. On average, research analysts expect that Gaxos.ai will post -0.3 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

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, August 15th. Weiss Ratings raised shares of Gaxos.ai from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Gaxos.ai stock. Susquehanna International Group LLP acquired a new stake in shares of Gaxos.ai Inc. (NASDAQ:GXAI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 56,353 shares of the company’s stock, valued at approximately $66,000. Susquehanna International Group LLP owned about 0.79% of Gaxos.ai at the end of the most recent reporting period. 42.62% of the stock is currently owned by institutional investors and hedge funds.

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.