Nexus Advanced Technologies Inc. (NASDAQ:NXAT) Stock Short Interest Declines 91.0%

Nexus Advanced Technologies Inc. (NASDAQ:NXAT) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 4,526 shares, a decrease of 91.0% from the September 15th total of 50,332 shares. Based on an average daily trading volume, of 47,062 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.5% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Nexus Advanced Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, September 9th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Nexus Advanced Technologies Stock Up 3.6%

Shares of NASDAQ:NXAT traded up $0.02 during trading on Friday, reaching $0.65. 1,270,088 shares of the stock were exchanged, compared to its average volume of 270,180. Nexus Advanced Technologies has a 12-month low of $0.60 and a 12-month high of $99.90. The firm’s 50-day moving average price is $1.82 and its 200 day moving average price is $6.12.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Nexus Advanced Technologies stock. Anson Funds Management LP acquired a new stake in Nexus Advanced Technologies Inc. (NASDAQ:NXAT) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,823,333 shares of the company’s stock, valued at approximately $1,984,000. Anson Funds Management LP owned about 6.05% of Nexus Advanced Technologies at the end of the most recent reporting period. 62.18% of the stock is currently owned by hedge funds and other institutional investors.

Nexus Advanced Technologies Inc is a communication services company in the Movies & Entertainment industry.