Short Interest in Gaxos.ai Inc. (NASDAQ:GXAI) Drops By 56.5%

Gaxos.ai Inc. (NASDAQ:GXAI) saw a significant decline in short interest in the month of February. As of February 13th, there was short interest totaling 297,438 shares, a decline of 56.5% from the January 29th total of 683,583 shares. Based on an average trading volume of 20,192,278 shares, the short-interest ratio is presently 0.0 days. Approximately 4.3% of the shares of the company are sold short. Approximately 4.3% of the shares of the company are sold short. Based on an average trading volume of 20,192,278 shares, the short-interest ratio is presently 0.0 days.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. DRW Securities LLC bought a new position in shares of Gaxos.ai during the 4th quarter valued at approximately $213,000. Two Sigma Investments LP bought a new stake in Gaxos.ai during the 3rd quarter worth approximately $90,000. Finally, XTX Topco Ltd lifted its holdings in Gaxos.ai by 197.4% during the fourth quarter. XTX Topco Ltd now owns 44,811 shares of the company’s stock valued at $48,000 after purchasing an additional 29,745 shares in the last quarter. 42.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GXAI has been the topic of a number of recent research reports. Wall Street Zen downgraded Gaxos.ai from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Gaxos.ai in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Gaxos.ai presently has a consensus rating of “Sell”.

Gaxos.ai Trading Up 2.7%

Gaxos.ai stock traded up $0.03 during trading on Friday, reaching $1.14. The company had a trading volume of 800,938 shares, compared to its average volume of 15,610,190. Gaxos.ai has a 52 week low of $1.00 and a 52 week high of $2.96. The firm’s 50-day simple moving average is $1.22 and its 200 day simple moving average is $1.43. The firm has a market capitalization of $8.12 million, a price-to-earnings ratio of -2.71 and a beta of 1.05.

About Gaxos.ai

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.