Nexalin Technology, Inc. (NASDAQ:NXL) Sees Large Increase in Short Interest

Nexalin Technology, Inc. (NASDAQ:NXL – Get Free Report) was the target of a significant growth in short interest in May. As of May 29th, there was short interest totaling 1,180,877 shares, a growth of 94.4% from the May 14th total of 607,378 shares. Based on an average trading volume of 2,756,848 shares, the days-to-cover ratio is currently 0.4 days. Currently, 7.7% of the shares of the stock are short sold.

Nexalin Technology Stock Down 6.2%

Shares of NASDAQ:NXL traded down $0.03 on Monday, hitting $0.40. The company had a trading volume of 134,284 shares, compared to its average volume of 1,436,026. Nexalin Technology has a 52-week low of $0.31 and a 52-week high of $2.00. The business has a 50 day moving average of $0.42 and a 200 day moving average of $0.55.

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Nexalin Technology (NASDAQ:NXL – Get Free Report) last released its earnings results on Friday, May 8th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Nexalin Technology had a negative return on equity of 191.88% and a negative net margin of 3,018.12%.The business had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.02 million.

Hedge Funds Weigh In On Nexalin Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. Susquehanna International Group LLP acquired a new position in shares of Nexalin Technology in the 3rd quarter valued at about $57,000. Renaissance Technologies LLC grew its stake 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 buying an additional 66,400 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Nexalin Technology by 23.4% in the fourth quarter. Geode Capital Management LLC now owns 150,274 shares of the company’s stock valued at $84,000 after buying an additional 28,454 shares in the last quarter. Finally, PEAK6 LLC acquired a new stake in shares of Nexalin Technology in the fourth quarter valued at about $266,000. 0.65% of the stock is owned by institutional investors and hedge funds.

About Nexalin Technology

(Get Free Report)

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.

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