Nexalin Technology, Inc. (NASDAQ:NXL - Get Free Report) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 622,600 shares, a drop of 51.7% from the October 31st total of 1,290,000 shares. Based on an average daily volume of 1,580,000 shares, the days-to-cover ratio is currently 0.4 days. Currently, 6.3% of the shares of the stock are sold short.
Institutional Investors Weigh In On Nexalin Technology
An institutional investor recently bought a new position in Nexalin Technology stock. CVI Holdings LLC purchased a new stake in Nexalin Technology, Inc. (NASDAQ:NXL - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 55,462 shares of the company's stock, valued at approximately $94,000. CVI Holdings LLC owned 0.52% of Nexalin Technology as of its most recent SEC filing. Institutional investors own 0.65% of the company's stock.
Wall Street Analyst Weigh In
Separately, Maxim Group assumed coverage on Nexalin Technology in a research note on Wednesday, October 9th. They issued a "buy" rating and a $3.00 price objective on the stock.
View Our Latest Report on Nexalin Technology
Nexalin Technology Stock Performance
NASDAQ NXL traded up $0.42 on Thursday, reaching $4.27. The company's stock had a trading volume of 475,474 shares, compared to its average volume of 1,442,705. Nexalin Technology has a twelve month low of $0.25 and a twelve month high of $4.36. The firm's 50 day moving average is $2.10 and its two-hundred day moving average is $1.46. The stock has a market cap of $54.91 million, a PE ratio of -6.67 and a beta of 3.50.
Nexalin Technology (NASDAQ:NXL - Get Free Report) last released its earnings results on Friday, November 8th. The company reported ($0.23) EPS for the quarter. The business had revenue of $0.04 million for the quarter. Nexalin Technology had a negative net margin of 3,407.98% and a negative return on equity of 187.59%.
About Nexalin Technology
(
Get Free Report)
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.
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