Gaxos.ai Inc. (NASDAQ:GXAI – Get Free Report) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totaling 411,293 shares, a decline of 71.2% from the August 15th total of 1,428,202 shares. Based on an average trading volume of 768,413 shares, the days-to-cover ratio is presently 0.5 days. Approximately 6.0% of the shares of the stock are short sold.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the business. XTX Topco Ltd purchased a new stake in Gaxos.ai in the 2nd quarter worth about $48,000. Susquehanna International Group LLP purchased a new position in Gaxos.ai during the 2nd quarter valued at about $66,000. Two Sigma Investments LP purchased a new position in Gaxos.ai during the 3rd quarter valued at about $90,000. Finally, DRW Securities LLC acquired a new position in shares of Gaxos.ai in the 4th quarter valued at about $213,000. 42.62% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have recently weighed in on GXAI shares. Wall Street Zen upgraded shares of Gaxos.ai from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings upgraded shares of Gaxos.ai from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.
Gaxos.ai Price Performance
Gaxos.ai stock traded down $0.06 during midday trading on Friday, reaching $0.68. The stock had a trading volume of 304,133 shares, compared to its average volume of 1,043,369. Gaxos.ai has a twelve month low of $0.68 and a twelve month high of $2.63. The firm has a market cap of $4.84 million, a price-to-earnings ratio of -1.36 and a beta of 0.96. The firm’s fifty day simple moving average is $0.91 and its two-hundred day simple moving average is $1.14.
Gaxos.ai (NASDAQ:GXAI – Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.17. The company had revenue of $2.46 million for the quarter, compared to the consensus estimate of $1.80 million. Gaxos.ai had a negative net margin of 64.81% and a negative return on equity of 38.79%. As a group, sell-side analysts predict that Gaxos.ai will post -0.3 EPS for the current fiscal year.
Gaxos.ai declared that its Board of Directors has authorized a share repurchase plan on Monday, August 3rd that allows the company to buyback $1,000.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 18,726,591.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.
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.
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