Gaxos.ai Inc. (NASDAQ:GXAI) Short Interest Update

Gaxos.ai Inc. (NASDAQ:GXAI) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 411,293 shares, a decrease of 71.2% from the August 15th total of 1,428,202 shares. Based on an average daily volume of 768,413 shares, the short-interest ratio is currently 0.5 days. Approximately 6.0% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GXAI. Weiss Ratings raised Gaxos.ai from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 27th. Wall Street Zen raised Gaxos.ai from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. DRW Securities LLC acquired a new position in shares of Gaxos.ai during the 4th quarter valued at $213,000. Two Sigma Investments LP acquired a new stake in shares of Gaxos.ai in the third quarter valued at $90,000. Susquehanna International Group LLP acquired a new stake in shares of Gaxos.ai in the second quarter valued at $66,000. Finally, XTX Topco Ltd acquired a new stake in shares of Gaxos.ai in the second quarter valued at $48,000. Institutional investors and hedge funds own 42.62% of the company’s stock.

Gaxos.ai Price Performance

Shares of NASDAQ GXAI traded down $0.06 during midday trading on Friday, reaching $0.68. 304,133 shares of the company traded hands, compared to its average volume of 1,043,369. The company has a market cap of $4.84 million, a price-to-earnings ratio of -1.36 and a beta of 0.96. The stock has a 50-day moving average price of $0.91 and a 200 day moving average price of $1.14. Gaxos.ai has a 52 week low of $0.68 and a 52 week high of $2.63.

Gaxos.ai (NASDAQ:GXAI) last announced its earnings results on Wednesday, August 12th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.17. The firm had revenue of $2.46 million during the quarter, compared to analyst estimates of $1.80 million. Gaxos.ai had a negative net margin of 64.81% and a negative return on equity of 38.79%. As a group, analysts expect that Gaxos.ai will post -0.3 EPS for the current year.

Gaxos.ai announced that its Board of Directors has authorized a share repurchase program on Monday, August 3rd that authorizes the company to repurchase $1,000.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 18,726,591.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

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.