Nexalin Technology, Inc. (NASDAQ:NXL) Short Interest Update

Nexalin Technology, Inc. (NASDAQ:NXL) saw a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 320,400 shares, a decline of 34.7% from the December 31st total of 491,000 shares. Based on an average daily trading volume, of 1,730,000 shares, the short-interest ratio is presently 0.2 days. Approximately 3.1% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

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

Nexalin Technology Stock Down 1.2 %

Shares of NASDAQ:NXL opened at $2.57 on Wednesday. Nexalin Technology has a fifty-two week low of $0.25 and a fifty-two week high of $4.49. The business has a 50-day moving average of $3.36 and a two-hundred day moving average of $2.08.

Nexalin Technology (NASDAQ:NXL) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.23) earnings per share for the quarter. Nexalin Technology had a negative return on equity of 187.59% and a negative net margin of 3,407.98%. The business had revenue of $0.04 million for the quarter.

Hedge Funds Weigh In On Nexalin Technology

A hedge fund recently bought a new stake in Nexalin Technology stock. Drive Wealth Management LLC acquired a new position in shares of Nexalin Technology, Inc. (NASDAQ:NXL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 20,000 shares of the company’s stock, valued at approximately $55,000. Drive Wealth Management LLC owned about 0.15% of Nexalin Technology as of its most recent filing with the Securities and Exchange Commission. 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.