CXApp Inc. (NASDAQ:CXAI) Sees Large Increase in Short Interest

CXApp Inc. (NASDAQ:CXAI) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 293,777 shares, a growth of 88.0% from the September 30th total of 156,249 shares. Currently, 13.0% of the shares of the stock are sold short. Based on an average trading volume of 137,512 shares, the short-interest ratio is presently 2.1 days.

CXApp Trading Down 11.9%

Shares of NASDAQ:CXAI opened at $1.33 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.64 and a current ratio of 1.64. CXApp has a 52-week low of $1.26 and a 52-week high of $37.41. The company has a 50-day simple moving average of $2.55 and a 200 day simple moving average of $7.82. The company has a market capitalization of $3.11 million, a P/E ratio of -0.05 and a beta of 0.97.

CXApp (NASDAQ:CXAI) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.00) by $2.90. CXApp had a negative return on equity of 135.04% and a negative net margin of 446.46%. The company had revenue of $1.69 million during the quarter, compared to analysts’ expectations of $1.15 million.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wall Street Zen cut shares of CXApp from a “hold” rating to a “sell” rating in a research report on Saturday, September 12th. Weiss Ratings restated a “sell (e+)” rating on shares of CXApp in a report on Thursday, October 15th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Institutional Investors Weigh In On CXApp

A hedge fund recently raised its position in CXApp stock. Renaissance Technologies LLC boosted its position in CXApp Inc. (NASDAQ:CXAI) by 242.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 371,754 shares of the company’s stock after acquiring an additional 263,154 shares during the quarter. Renaissance Technologies LLC owned 0.65% of CXApp worth $67,000 at the end of the most recent reporting period. 14.41% of the stock is owned by institutional investors.

About CXApp

CXApp Inc (NASDAQ: CXAI) provides an enterprise workplace experience platform designed to help organizations connect employees with people, information and physical workspaces. Its software supports employee communications, workplace engagement and collaboration through branded mobile and digital experiences.

The CXApp platform includes features such as workplace navigation and wayfinding, desk and room booking, event and community engagement, internal communications, service requests and workplace analytics.