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

Gaxos.ai Inc. (NASDAQ:GXAI) was the recipient of a large growth in short interest in March. As of March 13th, there was short interest totaling 423,663 shares, a growth of 50.4% from the February 26th total of 281,658 shares. Approximately 6.2% of the shares of the company are sold short. Based on an average daily volume of 25,838,543 shares, the short-interest ratio is currently 0.0 days.

Gaxos.ai Stock Performance

Shares of GXAI traded down $0.11 during mid-day trading on Friday, reaching $1.20. The stock had a trading volume of 772,454 shares, compared to its average volume of 14,017,725. The business has a fifty day moving average of $1.32 and a 200 day moving average of $1.39. The firm has a market cap of $8.54 million, a price-to-earnings ratio of -2.18 and a beta of 1.17. Gaxos.ai has a 12 month low of $1.00 and a 12 month high of $2.96.

Gaxos.ai (NASDAQ:GXAI) last announced its quarterly earnings data on Tuesday, March 17th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.03. The firm had revenue of $1.24 million for the quarter. Gaxos.ai had a negative net margin of 203.88% and a negative return on equity of 27.61%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Gaxos.ai in a research report on Monday, December 22nd. Wall Street Zen downgraded Gaxos.ai to a “strong sell” rating in a research note on Saturday, March 7th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Gaxos.ai currently has an average rating of “Sell”.

Hedge Funds Weigh In On Gaxos.ai

Large investors have recently made changes to their positions in the business. DRW Securities LLC purchased a new stake in shares of Gaxos.ai during the fourth quarter worth about $213,000. Two Sigma Investments LP bought a new stake in Gaxos.ai during the 3rd quarter valued at approximately $90,000. Finally, XTX Topco Ltd lifted its holdings in Gaxos.ai by 197.4% in the 4th quarter. XTX Topco Ltd now owns 44,811 shares of the company’s stock worth $48,000 after purchasing an additional 29,745 shares in the last quarter. 42.62% of the stock is currently owned by hedge funds and other institutional investors.

Gaxos.ai Company Profile

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.