Gaxos.ai Inc. (NASDAQ:GXAI) Sees Large Increase in Short Interest

Gaxos.ai Inc. (NASDAQ:GXAI) was the target of a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 683,583 shares, a growth of 426.4% from the January 15th total of 129,859 shares. Based on an average daily volume of 12,018,379 shares, the short-interest ratio is presently 0.1 days. Currently, 9.9% of the company’s stock are sold short. Currently, 9.9% of the company’s stock are sold short. Based on an average daily volume of 12,018,379 shares, the short-interest ratio is presently 0.1 days.

Gaxos.ai Stock Down 3.7%

GXAI stock traded down $0.04 during midday trading on Thursday, reaching $1.03. The company had a trading volume of 1,051,337 shares, compared to its average volume of 16,415,794. The firm has a market capitalization of $7.33 million, a PE ratio of -2.45 and a beta of 1.05. The stock has a 50 day moving average price of $1.20 and a 200 day moving average price of $1.42. Gaxos.ai has a fifty-two week low of $1.00 and a fifty-two week high of $2.96.

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

Institutional Investors Weigh In On Gaxos.ai

A number of hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd bought a new position in shares of Gaxos.ai during the second quarter worth about $48,000. Two Sigma Investments LP bought a new stake in Gaxos.ai in the 3rd quarter valued at about $90,000. Finally, DRW Securities LLC acquired a new position in Gaxos.ai during the 4th quarter valued at about $213,000. 42.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GXAI has been the topic of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Gaxos.ai in a research note on Monday, December 22nd. Wall Street Zen lowered Gaxos.ai from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

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.