Nexalin Technology, Inc. (NASDAQ:NXL) Short Interest Down 51.7% in November

Nexalin Technology, Inc. (NASDAQ:NXL) saw a large decline in short interest in November. As of November 15th, there was short interest totalling 622,600 shares, a decline of 51.7% from the October 31st total of 1,290,000 shares. Currently, 6.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,580,000 shares, the short-interest ratio is currently 0.4 days.

Wall Street Analysts Forecast Growth

Separately, Maxim Group started coverage on Nexalin Technology in a research note on Wednesday, October 9th. They issued a “buy” rating and a $3.00 price objective on the stock.

Nexalin Technology Trading Up 10.9 %

Shares of Nexalin Technology stock opened at $4.27 on Thursday. The firm’s 50 day moving average is $2.10 and its 200 day moving average is $1.46. The firm has a market capitalization of $54.91 million, a PE ratio of -6.67 and a beta of 3.50. Nexalin Technology has a 1 year low of $0.25 and a 1 year high of $4.36.

Nexalin Technology (NASDAQ:NXL) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.23) earnings per share (EPS) for the quarter. Nexalin Technology had a negative return on equity of 187.59% and a negative net margin of 3,407.98%. The company had revenue of $0.04 million for the quarter.

Institutional Trading of Nexalin Technology

An institutional investor recently bought a new position in Nexalin Technology stock. CVI Holdings LLC bought a new position in shares of Nexalin Technology, Inc. (NASDAQ:NXL) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 55,462 shares of the company’s stock, valued at approximately $94,000. CVI Holdings LLC owned 0.52% of Nexalin Technology at the end of the most recent reporting period. 0.65% of the stock is currently owned by institutional investors.

About Nexalin Technology

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.