Gaxos.ai Inc. (NASDAQ:GXAI) Sees Significant Increase in Short Interest

Gaxos.ai Inc. (NASDAQ:GXAI) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 423,663 shares, an increase of 50.4% from the February 26th total of 281,658 shares. Approximately 6.2% of the company’s stock are sold short. Based on an average daily volume of 25,838,543 shares, the short-interest ratio is currently 0.0 days.

Wall Street Analyst Weigh In

GXAI has been the topic of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Gaxos.ai in a report on Monday, December 22nd. Wall Street Zen lowered shares of Gaxos.ai to a “strong sell” rating in a research note on Saturday, March 7th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Gaxos.ai has an average rating of “Sell”.

Gaxos.ai Trading Down 8.4%

Shares of NASDAQ GXAI traded down $0.11 during trading on Friday, reaching $1.20. The company had a trading volume of 772,454 shares, compared to its average volume of 14,017,725. The business’s 50-day moving average is $1.32 and its 200 day moving average is $1.39. Gaxos.ai has a 12-month low of $1.00 and a 12-month high of $2.96.

Gaxos.ai (NASDAQ:GXAI) last announced its quarterly earnings data on Tuesday, March 17th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.03. The company had revenue of $1.24 million for the quarter. Gaxos.ai had a negative net margin of 203.88% and a negative return on equity of 27.61%.

Institutional Trading of Gaxos.ai

A number of institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd raised its stake in shares of Gaxos.ai by 197.4% in the fourth quarter. XTX Topco Ltd now owns 44,811 shares of the company’s stock worth $48,000 after purchasing an additional 29,745 shares during the last quarter. DRW Securities LLC bought a new stake in Gaxos.ai in the 4th quarter worth about $213,000. Finally, Two Sigma Investments LP bought a new stake in Gaxos.ai in the 3rd quarter worth about $90,000. Institutional investors own 42.62% of the company’s stock.

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.