Nexalin Technology, Inc. (NASDAQ:NXL) Short Interest Down 30.0% in February

Nexalin Technology, Inc. (NASDAQ:NXL) was the recipient of a large decrease in short interest in the month of February. As of February 15th, there was short interest totalling 355,900 shares, a decrease of 30.0% from the January 31st total of 508,600 shares. Based on an average trading volume of 437,200 shares, the short-interest ratio is currently 0.8 days. Currently, 3.4% of the company’s stock are sold short.

Institutional Trading of Nexalin Technology

Several hedge funds and other institutional investors have recently made changes to their positions in NXL. Drive Wealth Management LLC purchased a new stake in shares of Nexalin Technology in the 4th quarter worth approximately $55,000. Kingsview Wealth Management LLC purchased a new stake in shares of Nexalin Technology in the 4th quarter worth approximately $28,000. Geode Capital Management LLC grew its stake in shares of Nexalin Technology by 36.3% in the 4th quarter. Geode Capital Management LLC now owns 107,241 shares of the company’s stock worth $296,000 after buying an additional 28,544 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Nexalin Technology in the 4th quarter worth approximately $46,000. Finally, Northern Trust Corp bought a new position in Nexalin Technology in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

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

Nexalin Technology Trading Up 0.4 %

Shares of NXL stock traded up $0.01 during midday trading on Tuesday, reaching $2.43. 164,761 shares of the stock were exchanged, compared to its average volume of 1,426,569. Nexalin Technology has a 1 year low of $0.30 and a 1 year high of $4.49. The company’s 50 day moving average is $2.96 and its two-hundred day moving average is $2.43. The firm has a market cap of $32.33 million, a PE ratio of -3.80 and a beta of 4.20.

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.