Short Interest in Nexalin Technology, Inc. (NASDAQ:NXL) Rises By 31.4%

Nexalin Technology, Inc. (NASDAQ:NXL) was the recipient of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 508,600 shares, an increase of 31.4% from the January 15th total of 387,000 shares. Currently, 4.9% of the company’s shares are short sold. Based on an average daily volume of 607,900 shares, the short-interest ratio is presently 0.8 days.

Nexalin Technology Price Performance

Shares of NASDAQ NXL traded up $0.10 during midday trading on Friday, hitting $3.31. The company’s stock had a trading volume of 255,000 shares, compared to its average volume of 401,797. The business’s fifty day simple moving average is $3.12 and its two-hundred day simple moving average is $2.26. Nexalin Technology has a 1 year low of $0.29 and a 1 year high of $4.49. The firm has a market capitalization of $44.02 million, a price-to-earnings ratio of -5.17 and a beta of 4.20.

Wall Street Analysts Forecast Growth

Separately, Maxim Group reaffirmed a “hold” rating on shares of Nexalin Technology in a research note on Thursday, December 5th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Kingsview Wealth Management LLC purchased a new position in Nexalin Technology in the fourth quarter worth approximately $28,000. Jane Street Group LLC purchased a new position in Nexalin Technology in the fourth quarter worth approximately $28,000. Northern Trust Corp purchased a new position in Nexalin Technology in the fourth quarter worth approximately $36,000. XTX Topco Ltd purchased a new position in Nexalin Technology in the fourth quarter worth approximately $46,000. Finally, Drive Wealth Management LLC purchased a new position in Nexalin Technology in the fourth quarter worth approximately $55,000. Hedge funds and other institutional investors own 0.65% of the company’s stock.

About Nexalin Technology

Nexalin Technology, Inc, a medical device company, designs and develops neurostimulation products for the treatment of mental health in the United States and China. The company designs and develops Generation 2 and Generation 3, that is in clinical trials for the treatment of substance abuse issues related to opiate, cocaine, alcohol abuse, alzheimer's disease, and dementia.