Gaxos.ai Inc. (NASDAQ:GXAI) Short Interest Up 426.4% in January

Gaxos.ai Inc. (NASDAQ:GXAI) saw a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 683,583 shares, a growth of 426.4% from the January 15th total of 129,859 shares. Approximately 9.9% of the shares of the company are short sold. Based on an average daily trading volume, of 12,018,379 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 12,018,379 shares, the days-to-cover ratio is presently 0.1 days. Approximately 9.9% of the shares of the company are short sold.

Gaxos.ai Stock Down 8.9%

GXAI stock opened at $1.12 on Wednesday. The company has a 50-day simple moving average of $1.21 and a 200 day simple moving average of $1.43. The company has a market capitalization of $7.97 million, a P/E ratio of -2.67 and a beta of 1.05. Gaxos.ai has a fifty-two week low of $1.00 and a fifty-two week high of $2.96.

Gaxos.ai (NASDAQ:GXAI) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.14) EPS for the quarter. The company had revenue of $0.50 million for the quarter. Gaxos.ai had a negative return on equity of 25.08% and a negative net margin of 549.60%.

Hedge Funds Weigh In On Gaxos.ai

An institutional investor recently bought a new position in Gaxos.ai stock. XTX Topco Ltd acquired a new position in Gaxos.ai Inc. (NASDAQ:GXAI) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 34,006 shares of the company’s stock, valued at approximately $48,000. XTX Topco Ltd owned approximately 0.48% of Gaxos.ai as of its most recent filing with the SEC. Hedge funds and other institutional investors own 42.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GXAI shares. Wall Street Zen cut shares of Gaxos.ai from a “hold” rating to a “sell” rating in a report 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 investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Gaxos.ai presently has an average rating of “Sell”.

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.