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

Nexalin Technology, Inc. (NASDAQ:NXL) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totaling 601,117 shares, an increase of 24.7% from the March 31st total of 481,971 shares. Based on an average daily volume of 1,844,311 shares, the short-interest ratio is currently 0.3 days. Approximately 3.9% of the shares of the stock are sold short.

Institutional Investors Weigh In On Nexalin Technology

Large investors have recently modified their holdings of the stock. Susquehanna International Group LLP bought a new position in Nexalin Technology in the 3rd quarter valued at $57,000. Geode Capital Management LLC lifted its stake in Nexalin Technology by 23.4% in the fourth quarter. Geode Capital Management LLC now owns 150,274 shares of the company’s stock worth $84,000 after purchasing an additional 28,454 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Nexalin Technology by 119.2% in the fourth quarter. Renaissance Technologies LLC now owns 122,100 shares of the company’s stock worth $68,000 after purchasing an additional 66,400 shares during the last quarter. Finally, PEAK6 LLC bought a new position in shares of Nexalin Technology during the fourth quarter valued at about $266,000. Hedge funds and other institutional investors own 0.65% of the company’s stock.

Nexalin Technology Stock Up 7.0%

Shares of NASDAQ NXL traded up $0.03 during midday trading on Friday, reaching $0.38. 141,660 shares of the company were exchanged, compared to its average volume of 1,042,756. The stock’s 50-day moving average price is $0.42 and its 200-day moving average price is $0.74. The stock has a market cap of $7.83 million, a P/E ratio of -0.75 and a beta of 3.57. Nexalin Technology has a one year low of $0.33 and a one year high of $2.00.

Nexalin Technology (NASDAQ:NXL) last issued its quarterly earnings results on Wednesday, March 25th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). Nexalin Technology had a negative net margin of 2,722.19% and a negative return on equity of 195.69%. The firm had revenue of $0.17 million for the quarter, compared to the consensus estimate of $0.08 million.

About Nexalin Technology

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.