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

Nexalin Technology, Inc. (NASDAQ:NXL) saw a significant decline in short interest in March. As of March 13th, there was short interest totaling 440,670 shares, a decline of 26.4% from the February 26th total of 598,666 shares. Approximately 3.2% of the company’s stock are sold short. Based on an average trading volume of 108,359 shares, the short-interest ratio is currently 4.1 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nexalin Technology in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Nexalin Technology Stock Performance

Shares of NXL stock opened at $0.35 on Tuesday. The company has a market capitalization of $7.26 million, a price-to-earnings ratio of -0.69 and a beta of 4.05. Nexalin Technology has a 52-week low of $0.35 and a 52-week high of $2.31. The company has a 50-day simple moving average of $0.48 and a two-hundred day simple moving average of $0.84.

Nexalin Technology (NASDAQ:NXL) last posted its earnings results on Wednesday, March 25th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The firm had revenue of $0.17 million for the quarter, compared to the consensus estimate of $0.08 million. Nexalin Technology had a negative return on equity of 0.87% and a negative net margin of 2,722.19%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Susquehanna International Group LLP bought a new position in shares of Nexalin Technology during the 3rd quarter valued at approximately $57,000. Renaissance Technologies LLC increased its position in Nexalin Technology by 119.2% in the fourth quarter. Renaissance Technologies LLC now owns 122,100 shares of the company’s stock worth $68,000 after buying an additional 66,400 shares during the last quarter. Geode Capital Management LLC increased its position in Nexalin Technology by 23.4% in the fourth quarter. Geode Capital Management LLC now owns 150,274 shares of the company’s stock worth $84,000 after buying an additional 28,454 shares during the last quarter. Finally, PEAK6 LLC bought a new stake in shares of Nexalin Technology in the fourth quarter valued at $266,000. Institutional investors own 0.65% of the company’s stock.

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.