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

Nexalin Technology, Inc. (NASDAQ:NXL) was the recipient of a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 440,670 shares, a drop of 26.4% from the February 26th total of 598,666 shares. Currently, 3.2% of the shares of the company are sold short. Based on an average trading volume of 108,359 shares, the short-interest ratio is presently 4.1 days.

Nexalin Technology Stock Performance

Shares of NXL stock traded down $0.01 on Monday, reaching $0.35. 52,360 shares of the company were exchanged, compared to its average volume of 124,031. Nexalin Technology has a 1 year low of $0.35 and a 1 year high of $2.31. The business has a 50-day moving average price of $0.48 and a 200 day moving average price of $0.84. The company has a market cap of $7.26 million, a price-to-earnings ratio of -0.69 and a beta of 4.05.

Nexalin Technology (NASDAQ:NXL) last released its earnings results on Wednesday, March 25th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The firm had revenue of $0.17 million during the quarter, compared to analysts’ expectations of $0.08 million. Nexalin Technology had a negative net margin of 2,722.19% and a negative return on equity of 0.87%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Nexalin Technology in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Nexalin Technology has an average rating of “Sell”.

Institutional Trading of Nexalin Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. PEAK6 LLC purchased a new position in shares of Nexalin Technology during the 4th quarter worth $266,000. Renaissance Technologies LLC grew its holdings in shares of Nexalin Technology by 119.2% in the fourth quarter. Renaissance Technologies LLC now owns 122,100 shares of the company’s stock valued at $68,000 after purchasing an additional 66,400 shares during the period. Susquehanna International Group LLP acquired a new stake in Nexalin Technology during the third quarter worth about $57,000. Finally, Geode Capital Management LLC increased its position 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 purchasing an additional 28,454 shares during the last quarter. 0.65% of the stock is owned by institutional investors and hedge funds.

About Nexalin Technology

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.