CXApp Inc. (NASDAQ:CXAI) Stock Short Interest Jumps 88.0%

CXApp Inc. (NASDAQ:CXAI) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 293,777 shares, a growth of 88.0% from the September 30th total of 156,249 shares. Currently, 13.0% of the company’s shares are sold short. Based on an average trading volume of 137,512 shares, the days-to-cover ratio is currently 2.1 days.

Wall Street Analyst Weigh In

CXAI has been the subject of a number of research reports. Wall Street Zen cut CXApp from a “hold” rating to a “sell” rating in a report on Saturday, September 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of CXApp in a research report on Thursday, October 15th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, CXApp currently has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently raised its position in CXApp stock. Renaissance Technologies LLC increased its position in shares of CXApp Inc. (NASDAQ:CXAI) by 242.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 371,754 shares of the company’s stock after buying an additional 263,154 shares during the period. Renaissance Technologies LLC owned about 0.65% of CXApp worth $67,000 at the end of the most recent reporting period. Institutional investors own 14.41% of the company’s stock.

CXApp Stock Up 1.5%

Shares of CXAI stock traded up $0.02 during trading hours on Monday, reaching $1.35. The company had a trading volume of 114,134 shares, compared to its average volume of 267,186. The company has a market capitalization of $3.15 million, a P/E ratio of -0.05 and a beta of 0.97. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.64 and a current ratio of 1.64. CXApp has a twelve month low of $1.26 and a twelve month high of $37.00. The stock’s fifty day simple moving average is $2.55 and its 200 day simple moving average is $7.82.

CXApp (NASDAQ:CXAI) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($3.00) by $2.90. CXApp had a negative return on equity of 135.04% and a negative net margin of 446.46%. The firm had revenue of $1.69 million for the quarter, compared to analyst estimates of $1.15 million.

CXApp Company Profile

CXApp Inc (NASDAQ: CXAI) provides an enterprise workplace experience platform designed to help organizations connect employees with people, information and physical workspaces. Its software supports employee communications, workplace engagement and collaboration through branded mobile and digital experiences.

The CXApp platform includes features such as workplace navigation and wayfinding, desk and room booking, event and community engagement, internal communications, service requests and workplace analytics.