Nexalin Technology, Inc. (NASDAQ:NXL) Short Interest Down 30.0% in February

Nexalin Technology, Inc. (NASDAQ:NXL) saw a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 355,900 shares, a drop of 30.0% from the January 31st total of 508,600 shares. Based on an average trading volume of 437,200 shares, the days-to-cover ratio is presently 0.8 days. Currently, 3.4% of the shares of the stock are short sold.

Institutional Investors Weigh In On Nexalin Technology

A number of institutional investors and hedge funds have recently modified their holdings of the company. Kingsview Wealth Management LLC purchased a new stake in Nexalin Technology during the fourth quarter worth $28,000. Jane Street Group LLC purchased a new stake in shares of Nexalin Technology in the 4th quarter worth about $28,000. Northern Trust Corp acquired a new stake in Nexalin Technology in the 4th quarter valued at about $36,000. XTX Topco Ltd purchased a new position in Nexalin Technology during the 4th quarter valued at about $46,000. Finally, Drive Wealth Management LLC purchased a new position in Nexalin Technology during the 4th quarter valued at about $55,000. Institutional investors and hedge funds own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Maxim Group reaffirmed a “hold” rating on shares of Nexalin Technology in a research note on Thursday, December 5th.

Nexalin Technology Price Performance

Nexalin Technology stock traded down $0.27 during mid-day trading on Monday, reaching $2.44. The company had a trading volume of 361,138 shares, compared to its average volume of 365,339. The stock’s 50-day simple moving average is $2.97 and its 200-day simple moving average is $2.41. Nexalin Technology has a 1 year low of $0.30 and a 1 year high of $4.49. The company has a market capitalization of $32.42 million, a P/E ratio of -3.81 and a beta of 4.20.

Nexalin Technology Company Profile

Nexalin Technology, Inc, a medical device company, designs and develops neurostimulation products for the treatment of mental health in the United States and China. The company designs and develops Generation 2 and Generation 3, that is in clinical trials for the treatment of substance abuse issues related to opiate, cocaine, alcohol abuse, alzheimer's disease, and dementia.