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

Nexalin Technology, Inc. (NASDAQ:NXL) was the target of a large drop in short interest during 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. Approximately 3.4% of the company’s shares are short sold. Based on an average trading volume of 437,200 shares, the short-interest ratio is currently 0.8 days.

Nexalin Technology Trading Down 1.0 %

Shares of NXL stock traded down $0.03 during trading hours on Wednesday, reaching $2.41. The company’s stock had a trading volume of 40,965 shares, compared to its average volume of 1,421,064. Nexalin Technology has a one year low of $0.30 and a one year high of $4.49. The stock has a market capitalization of $32.00 million, a P/E ratio of -3.79 and a beta of 4.20. The firm’s fifty day simple moving average is $2.96 and its 200 day simple moving average is $2.43.

Analyst Upgrades and Downgrades

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

Institutional Trading of Nexalin Technology

Large investors have recently added to or reduced their stakes in the stock. Kingsview Wealth Management LLC purchased a new position in shares of Nexalin Technology during the fourth quarter valued at about $28,000. Drive Wealth Management LLC purchased a new position in shares of Nexalin Technology during the 4th quarter worth approximately $55,000. Jane Street Group LLC bought a new position in shares of Nexalin Technology in the 4th quarter worth approximately $28,000. Northern Trust Corp purchased a new position in shares of Nexalin Technology in the 4th quarter valued at approximately $36,000. Finally, Geode Capital Management LLC lifted its stake in shares of Nexalin Technology by 36.3% in the 4th quarter. Geode Capital Management LLC now owns 107,241 shares of the company’s stock valued at $296,000 after purchasing an additional 28,544 shares during the period. Institutional investors own 0.65% of the company’s stock.

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.