Short Interest in Nyxoah SA (NASDAQ:NYXH) Declines By 48.5%

Nyxoah SA (NASDAQ:NYXH) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 244,313 shares, a decline of 48.5% from the August 15th total of 474,703 shares. Based on an average daily trading volume, of 108,052 shares, the days-to-cover ratio is currently 2.3 days. Currently, 0.8% of the company’s shares are short sold.

Analyst Ratings Changes

Several research firms have weighed in on NYXH. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nyxoah in a report on Wednesday, August 19th. Oppenheimer set a $4.00 target price on Nyxoah in a research note on Thursday, August 6th. Cantor Fitzgerald restated an “overweight” rating on shares of Nyxoah in a report on Tuesday. Wall Street Zen lowered Nyxoah from a “hold” rating to a “sell” rating in a research note on Sunday, August 9th. Finally, Stifel Nicolaus cut their price target on shares of Nyxoah from $5.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, June 17th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $4.26.

Nyxoah Stock Performance

Shares of NYXH stock opened at $1.55 on Thursday. The company has a quick ratio of 2.31, a current ratio of 2.38 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average price of $1.55 and a 200-day moving average price of $2.33. Nyxoah has a 52 week low of $1.26 and a 52 week high of $6.87. The firm has a market capitalization of $60.08 million, a PE ratio of -0.62 and a beta of 1.63.

Nyxoah (NASDAQ:NYXH) last issued its earnings results on Thursday, August 6th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.20). Nyxoah had a negative return on equity of 178.90% and a negative net margin of 443.16%.The company had revenue of $8.76 million during the quarter, compared to analysts’ expectations of $8.64 million. As a group, equities research analysts expect that Nyxoah will post -1.45 earnings per share for the current year.

Hedge Funds Weigh In On Nyxoah

Institutional investors and hedge funds have recently modified their holdings of the company. Readystate Asset Management LP bought a new stake in Nyxoah during the second quarter valued at approximately $351,000. IFP Advisors Inc grew its holdings in Nyxoah by 35.6% during the 2nd quarter. IFP Advisors Inc now owns 118,426 shares of the company’s stock valued at $200,000 after buying an additional 31,061 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in Nyxoah in the 2nd quarter valued at $169,000.

Nyxoah Company Profile

Nyxoah SA is a medical technology company focused on developing treatments for obstructive sleep apnea (OSA), a sleep-related breathing disorder caused by repeated airway obstruction during sleep. The company is headquartered in Mont-Saint-Guibert, Belgium, and trades on Nasdaq under the symbol NYXH.

Nyxoah’s principal product is the Genio system, an implantable device designed to treat OSA through hypoglossal nerve stimulation. The system is intended to activate the nerves controlling the tongue and upper-airway muscles, helping maintain an open airway during sleep.