Nexalin Technology, Inc. (NASDAQ:NXL) Short Interest Update

Nexalin Technology, Inc. (NASDAQ:NXL) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 423,383 shares, a drop of 64.1% from the May 31st total of 1,180,877 shares. Currently, 2.8% of the company’s shares are sold short. Based on an average daily trading volume, of 301,490 shares, the days-to-cover ratio is currently 1.4 days.

Institutional Trading of Nexalin Technology

A number of institutional investors have recently modified their holdings of NXL. PEAK6 LLC purchased a new position in Nexalin Technology in the fourth quarter valued at approximately $266,000. Geode Capital Management LLC grew its stake in Nexalin Technology by 23.4% during the fourth quarter. Geode Capital Management LLC now owns 150,274 shares of the company’s stock worth $84,000 after buying an additional 28,454 shares during the period. Renaissance Technologies LLC grew its stake in Nexalin Technology by 119.2% during the fourth quarter. Renaissance Technologies LLC now owns 122,100 shares of the company’s stock worth $68,000 after buying an additional 66,400 shares during the period. Finally, Susquehanna International Group LLP acquired a new stake in shares of Nexalin Technology in the third quarter worth $57,000. Hedge funds and other institutional investors own 0.65% of the company’s stock.

Nexalin Technology Trading Up 4.0%

Shares of Nexalin Technology stock opened at $0.35 on Friday. Nexalin Technology has a twelve month low of $0.30 and a twelve month high of $2.00. The stock has a market capitalization of $7.31 million, a P/E ratio of -0.76 and a beta of 3.80. The business’s fifty day moving average price is $0.42 and its 200 day moving average price is $0.51.

Nexalin Technology (NASDAQ:NXL) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The firm had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.01 million. Nexalin Technology had a negative net margin of 3,018.12% and a negative return on equity of 191.88%.

Nexalin Technology Company Profile

Nexalin Technology, Inc is a U.S.-based medical device company specializing in noninvasive neuromodulation therapies for mental health conditions. The company develops and markets the Nexalin® medical device platform, which delivers proprietary alternating current waveforms to targeted areas of the brain through forehead-mounted electrodes. Its technology is designed to modulate neural activity without pharmaceuticals, positioning the company within the growing field of digital therapeutics and neurostimulation.

The Nexalin device has received U.S.