Short Interest in Nexalin Technology, Inc. (NASDAQ:NXL) Rises By 20.0%

Nexalin Technology, Inc. (NASDAQ:NXL) was the recipient of a significant growth in short interest in December. As of December 15th, there was short interest totalling 491,000 shares, a growth of 20.0% from the November 30th total of 409,300 shares. Based on an average trading volume of 1,680,000 shares, the days-to-cover ratio is presently 0.3 days. Approximately 4.7% of the shares of the stock are short sold.

Nexalin Technology Price Performance

Shares of NXL traded down $0.06 on Tuesday, hitting $2.76. The company’s stock had a trading volume of 383,569 shares, compared to its average volume of 1,359,389. The company has a 50 day moving average price of $3.41 and a 200 day moving average price of $1.91. Nexalin Technology has a fifty-two week low of $0.25 and a fifty-two week high of $4.49. The company has a market capitalization of $36.72 million, a PE ratio of -4.31 and a beta of 3.78.

Nexalin Technology (NASDAQ:NXL) last announced its earnings results on Friday, November 8th. The company reported ($0.23) EPS for the quarter. Nexalin Technology had a negative return on equity of 187.59% and a negative net margin of 3,407.98%. The business had revenue of $0.04 million for the quarter.

Wall Street Analyst Weigh In

Separately, Maxim Group reiterated a “hold” rating on shares of Nexalin Technology in a research report on Thursday, December 5th.

Hedge Funds Weigh In On Nexalin Technology

An institutional investor recently bought a new position in Nexalin Technology stock. CVI Holdings LLC bought a new position in shares of Nexalin Technology, Inc. (NASDAQ:NXL) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 55,462 shares of the company’s stock, valued at approximately $94,000. CVI Holdings LLC owned about 0.52% of Nexalin Technology as of its most recent SEC filing. 0.65% of the stock is currently owned by institutional investors.

Nexalin Technology Company Profile

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.