Short Interest in Nyxoah SA (NASDAQ:NYXH) Drops By 63.9%

Nyxoah SA (NASDAQ:NYXH) saw a large drop in short interest in June. As of June 30th, there was short interest totaling 298,468 shares, a drop of 63.9% from the June 15th total of 826,117 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average daily volume of 309,898 shares, the short-interest ratio is currently 1.0 days.

Nyxoah Price Performance

Shares of NYXH opened at $1.71 on Monday. Nyxoah has a 52-week low of $1.26 and a 52-week high of $8.59. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $2.26 and a two-hundred day simple moving average of $3.41. The company has a market capitalization of $66.28 million, a PE ratio of -0.69 and a beta of 1.61.

Nyxoah (NASDAQ:NYXH) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.11. Nyxoah had a negative net margin of 543.21% and a negative return on equity of 163.73%. The firm had revenue of $7.38 million during the quarter, compared to analyst estimates of $7.05 million. As a group, equities analysts forecast that Nyxoah will post -1.67 EPS for the current year.

Institutional Investors Weigh In On Nyxoah

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. raised its position in Nyxoah by 35.6% in the third quarter. Raymond James Financial Inc. now owns 12,762 shares of the company’s stock valued at $59,000 after purchasing an additional 3,353 shares during the period. Bank of America Corp DE boosted its stake in shares of Nyxoah by 72.4% in the 2nd quarter. Bank of America Corp DE now owns 7,866 shares of the company’s stock valued at $59,000 after buying an additional 3,303 shares during the period. Citadel Advisors LLC purchased a new position in Nyxoah in the third quarter worth approximately $98,000. Deutsche Bank AG lifted its position in shares of Nyxoah by 40.0% during the 4th quarter. Deutsche Bank AG now owns 35,000 shares of the company’s stock worth $161,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Shay Capital LLC acquired a new position in shares of Nyxoah during the 2nd quarter worth about $374,000.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NYXH shares. Stifel Nicolaus dropped their target price on shares of Nyxoah from $5.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, June 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 price target on shares of Nyxoah in a research note on Monday, March 23rd. Weiss Ratings lowered shares of Nyxoah from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 22nd. Piper Sandler reiterated an “overweight” rating and issued a $7.00 price objective (down from $9.00) on shares of Nyxoah in a report on Wednesday, May 13th. Finally, Robert W. Baird set a $2.85 target price on shares of Nyxoah in a research note on Thursday. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Nyxoah has an average rating of “Hold” and an average target price of $5.96.

About Nyxoah

Nyxoah SA, headquartered in Mont-Saint-Guibert, Belgium, is a medical technology company focused on neuromodulation therapies for sleep‐disordered breathing. Established in 2018, the company’s primary offering is the Genio® system, a minimally invasive bilateral hypoglossal nerve stimulator designed to treat moderate to severe obstructive sleep apnea (OSA). By electrically stimulating the genioglossus muscle, the device helps maintain airway patency during sleep, reducing apnea events and improving overall sleep quality.

The Genio system comprises a small, implantable stimulator positioned submentally and an external activation unit worn by the patient.