Gaxos.ai Inc. (NASDAQ:GXAI) Sees Significant Growth in Short Interest

Gaxos.ai Inc. (NASDAQ:GXAI) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 270,190 shares, an increase of 68.9% from the December 15th total of 159,956 shares. Approximately 3.9% of the company’s shares are short sold. Based on an average trading volume of 226,134 shares, the short-interest ratio is currently 1.2 days. Based on an average trading volume of 226,134 shares, the short-interest ratio is currently 1.2 days. Approximately 3.9% of the company’s shares are short sold.

Institutional Trading of Gaxos.ai

An institutional investor recently bought a new position in Gaxos.ai stock. Two Sigma Investments LP purchased a new stake in shares of Gaxos.ai Inc. (NASDAQ:GXAI) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 56,745 shares of the company’s stock, valued at approximately $90,000. Two Sigma Investments LP owned 0.80% of Gaxos.ai at the end of the most recent reporting period. Institutional investors and hedge funds own 42.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wall Street Zen downgraded 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 analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Gaxos.ai Trading Down 0.9%

Shares of GXAI opened at $1.13 on Friday. The firm has a market cap of $8.05 million, a price-to-earnings ratio of -2.69 and a beta of 1.09. The stock has a 50 day moving average of $1.19 and a 200-day moving average of $1.43. Gaxos.ai has a 52 week low of $1.00 and a 52 week high of $2.96.

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

About Gaxos.ai

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.