Nexus Advanced Technologies Inc. (NASDAQ:NXAT) Stock Short Interest Declines 91.0%

Nexus Advanced Technologies Inc. (NASDAQ:NXAT) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totaling 4,526 shares, a decrease of 91.0% from the September 15th total of 50,332 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average daily volume of 47,062 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Nexus Advanced Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, September 9th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Nexus Advanced Technologies presently has an average rating of “Sell”.

Institutional Trading of Nexus Advanced Technologies

A hedge fund recently bought a new stake in Nexus Advanced Technologies stock. Anson Funds Management LP purchased a new position in Nexus Advanced Technologies Inc. (NASDAQ:NXAT) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,823,333 shares of the company’s stock, valued at approximately $1,984,000. Anson Funds Management LP owned about 6.05% of Nexus Advanced Technologies at the end of the most recent quarter. 62.18% of the stock is currently owned by hedge funds and other institutional investors.

Nexus Advanced Technologies Trading Up 3.6%

Shares of NASDAQ NXAT traded up $0.02 during midday trading on Friday, hitting $0.65. The company’s stock had a trading volume of 1,270,088 shares, compared to its average volume of 270,180. Nexus Advanced Technologies has a 1-year low of $0.60 and a 1-year high of $99.90. The firm’s fifty day moving average price is $1.82 and its 200-day moving average price is $6.12.

Nexus Advanced Technologies Inc is a communication services company in the Movies & Entertainment industry.