Nyxoah SA (NASDAQ:NYXH) Stock Short Interest Declines 33.7%

Nyxoah SA (NASDAQ:NYXH) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 213,619 shares, a decline of 33.7% from the September 30th total of 322,282 shares. Approximately 0.6% of the company’s shares are short sold. Based on an average daily volume of 102,686 shares, the days-to-cover ratio is presently 2.1 days.

Nyxoah Price Performance

Shares of NASDAQ:NYXH traded up $0.00 on Tuesday, reaching $0.88. The company’s stock had a trading volume of 17,414 shares, compared to its average volume of 206,003. Nyxoah has a 52-week low of $0.80 and a 52-week high of $5.92. The company has a market cap of $34.19 million, a P/E ratio of -0.35 and a beta of 1.65. The company has a 50-day simple moving average of $1.33 and a 200 day simple moving average of $2.50. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.31 and a current ratio of 2.38.

Nyxoah (NASDAQ:NYXH) last released its earnings results on Thursday, August 6th. The company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.20). The company had revenue of $8.76 million for the quarter, compared to the consensus estimate of $8.64 million. Nyxoah had a negative net margin of 443.16% and a negative return on equity of 178.90%. As a group, equities research analysts anticipate that Nyxoah will post -1.46 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on NYXH shares. Wall Street Zen lowered Nyxoah from a “hold” rating to a “sell” rating in a research report on Sunday, August 9th. Raymond James Financial set a $3.00 price target on Nyxoah in a research note on Tuesday, October 27th. Cantor Fitzgerald cut their price objective on shares of Nyxoah to $3.00 and set an “overweight” rating for the company in a research report on Tuesday, October 27th. Piper Sandler restated an “overweight” rating and set a $6.00 target price (down from $7.00) on shares of Nyxoah in a research note on Thursday, August 6th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Nyxoah in a research note on Wednesday, August 19th. Two equities research 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $3.55.

Institutional Investors Weigh In On Nyxoah

Institutional investors have recently added to or reduced their stakes in the business. AIGH Capital Management LLC lifted its position in Nyxoah by 0.7% during the 3rd quarter. AIGH Capital Management LLC now owns 14,632,880 shares of the company’s stock worth $20,193,000 after acquiring an additional 98,000 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Nyxoah in the second quarter valued at about $169,000. IFP Advisors Inc raised its stake in shares of Nyxoah by 35.6% in the second quarter. IFP Advisors Inc now owns 118,426 shares of the company’s stock worth $200,000 after purchasing an additional 31,061 shares during the last quarter. Finally, Readystate Asset Management LP purchased a new position in shares of Nyxoah in the second quarter worth about $351,000.

About Nyxoah

Nyxoah SA is a medical technology company focused on developing and commercializing solutions for obstructive sleep apnea (OSA), a common sleep-related breathing disorder. The company is headquartered in Mont-Saint-Guibert, Belgium, and its shares trade on the Nasdaq under the symbol NYXH.

Nyxoah’s principal product is the Genio system, an implantable, rechargeable device designed to treat OSA through hypoglossal nerve stimulation. The system is intended to help maintain an open airway during sleep by stimulating the nerves that control the tongue and related upper-airway muscles.