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

Nexalin Technology, Inc. (NASDAQ:NXL) was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 278,300 shares, a decrease of 21.3% from the February 28th total of 353,700 shares. Approximately 2.6% of the company’s stock are sold short. Based on an average daily trading volume, of 318,500 shares, the days-to-cover ratio is currently 0.9 days.

Nexalin Technology Stock Performance

NXL stock traded up $0.11 on Wednesday, hitting $2.01. 107,800 shares of the company’s stock were exchanged, compared to its average volume of 1,287,473. The firm has a 50 day moving average price of $2.67 and a two-hundred day moving average price of $2.61. The stock has a market cap of $26.74 million, a P/E ratio of -3.14 and a beta of 4.33. Nexalin Technology has a 12-month low of $0.53 and a 12-month high of $4.49.

Nexalin Technology (NASDAQ:NXL) last issued its earnings results on Friday, March 14th. The company reported ($0.28) EPS for the quarter. Nexalin Technology had a negative net margin of 3,407.98% and a negative return on equity of 187.59%. The firm had revenue of $0.03 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Maxim Group upgraded shares of Nexalin Technology from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research note on Monday, March 24th.

Institutional Trading of Nexalin Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Kingsview Wealth Management LLC purchased a new position in Nexalin Technology in the 4th quarter valued at $28,000. Jane Street Group LLC acquired a new position in Nexalin Technology during the 4th quarter worth $28,000. Northern Trust Corp purchased a new stake in shares of Nexalin Technology in the 4th quarter valued at approximately $36,000. XTX Topco Ltd purchased a new position in shares of Nexalin Technology in the 4th quarter valued at about $46,000. Finally, Drive Wealth Management LLC acquired a new stake in Nexalin Technology during the 4th quarter worth $55,000. 0.65% of the stock is owned by institutional investors and hedge funds.

About Nexalin Technology

Nexalin Technology, Inc, a medical device company, designs and develops neurostimulation products for the treatment of mental health in the United States and China. The company designs and develops Generation 2 and Generation 3, that is in clinical trials for the treatment of substance abuse issues related to opiate, cocaine, alcohol abuse, alzheimer's disease, and dementia.