Nexalin Technology, Inc. (NASDAQ:NXL) Sees Significant Drop in Short Interest

Nexalin Technology, Inc. (NASDAQ:NXL) saw a large decline in short interest during the month of December. As of December 15th, there was short interest totaling 50,851 shares, a decline of 51.4% from the November 30th total of 104,655 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average daily volume of 127,930 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily volume of 127,930 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.4% of the company’s shares are sold short.

Nexalin Technology Trading Down 9.0%

Nexalin Technology stock traded down $0.06 during trading on Friday, hitting $0.63. The company had a trading volume of 300,545 shares, compared to its average volume of 143,352. The stock has a market cap of $11.75 million, a price-to-earnings ratio of -0.95 and a beta of 3.75. Nexalin Technology has a 1-year low of $0.61 and a 1-year high of $3.87. The company’s 50 day simple moving average is $1.12 and its 200-day simple moving average is $1.05.

Nexalin Technology (NASDAQ:NXL) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The firm had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.04 million. Nexalin Technology had a negative return on equity of 207.46% and a negative net margin of 5,527.39%.

Analyst Ratings Changes

NXL has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nexalin Technology in a research report on Monday. Wall Street Zen cut Nexalin Technology from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.00.

Institutional Trading of Nexalin Technology

A hedge fund recently bought a new stake in Nexalin Technology stock. Susquehanna International Group LLP purchased a new position in shares of Nexalin Technology, Inc. (NASDAQ:NXL) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 62,498 shares of the company’s stock, valued at approximately $57,000. Susquehanna International Group LLP owned approximately 0.35% of Nexalin Technology as of its most recent filing with the Securities & Exchange Commission. 0.65% of the stock is owned by institutional investors.

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.