Gaxos.ai Inc. (NASDAQ:GXAI) Short Interest Up 68.9% in December

Gaxos.ai Inc. (NASDAQ:GXAI) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 270,190 shares, an increase of 68.9% from the December 15th total of 159,956 shares. Approximately 3.9% of the shares of the company are short sold. Based on an average daily volume of 226,134 shares, the short-interest ratio is currently 1.2 days. Based on an average daily volume of 226,134 shares, the short-interest ratio is currently 1.2 days. Approximately 3.9% of the shares of the company are short sold.

Gaxos.ai Price Performance

Shares of Gaxos.ai stock traded down $0.01 during midday trading on Friday, hitting $1.13. 53,433 shares of the company were exchanged, compared to its average volume of 169,415. The firm has a 50 day simple moving average of $1.19 and a 200-day simple moving average of $1.43. The firm has a market cap of $8.05 million, a P/E ratio of -2.69 and a beta of 1.09. Gaxos.ai has a 52 week low of $1.00 and a 52 week high of $2.96.

Gaxos.ai (NASDAQ:GXAI) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.14) earnings per share (EPS) for the quarter. The company had revenue of $0.50 million for the quarter. Gaxos.ai had a negative return on equity of 25.08% and a negative net margin of 549.60%.

Hedge Funds Weigh In On Gaxos.ai

A hedge fund recently bought a new stake in Gaxos.ai stock. XTX Topco Ltd purchased a new stake in Gaxos.ai Inc. (NASDAQ:GXAI) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 34,006 shares of the company’s stock, valued at approximately $48,000. XTX Topco Ltd owned approximately 0.48% of Gaxos.ai as of its most recent SEC filing. Institutional investors and hedge funds own 42.62% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on GXAI. Wall Street Zen cut Gaxos.ai from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Gaxos.ai in a report on Monday, December 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Gaxos.ai presently has a consensus rating of “Sell”.

Gaxos.ai Company Profile

Gaxos.ai Inc engages in developing artificial intelligence applications for various sectors. Its portfolio includes applications in mental and physical wellbeing, coaching, and gaming. In addition, it offers Gaxos, a gaming platform develop, design, acquire, and manage conventional games and combine these games with unconventional game mechanisms. The company was formerly known as The NFT Gaming Company, Inc and changed its name to Gaxos.ai Inc in January 2024. Gaxos.ai Inc was incorporated in 2021 and is based in Roseland, New Jersey.