Gaxos.ai Inc. (NASDAQ:GXAI) Short Interest Up 24.1% in March
by Jessica Moore · The Cerbat GemGaxos.ai Inc. (NASDAQ:GXAI – Get Free Report) saw a significant increase in short interest in March. As of March 31st, there was short interest totaling 525,718 shares, an increase of 24.1% from the March 15th total of 423,663 shares. Currently, 5.3% of the shares of the stock are sold short. Based on an average daily volume of 1,328,787 shares, the days-to-cover ratio is currently 0.4 days.
Institutional Investors Weigh In On Gaxos.ai
Several hedge funds have recently modified their holdings of the company. DRW Securities LLC acquired a new position in Gaxos.ai during the fourth quarter worth about $213,000. Two Sigma Investments LP purchased a new position in shares of Gaxos.ai in the 3rd quarter valued at $90,000. Finally, XTX Topco Ltd grew its holdings in Gaxos.ai by 197.4% during the 4th 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.
Gaxos.ai Stock Performance
Shares of NASDAQ GXAI traded up $0.01 during trading hours on Friday, reaching $1.25. 4,454,616 shares of the stock were exchanged, compared to its average volume of 1,118,853. The firm has a market capitalization of $12.78 million, a price-to-earnings ratio of -2.27 and a beta of 0.91. The stock’s fifty day simple moving average is $1.28 and its 200 day simple moving average is $1.34. Gaxos.ai has a 52 week low of $1.00 and a 52 week high of $2.96.
Gaxos.ai (NASDAQ:GXAI – Get Free Report) last released its quarterly earnings data on Tuesday, March 17th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.03. The firm had revenue of $1.24 million for the quarter. Gaxos.ai had a negative return on equity of 27.61% and a negative net margin of 203.88%.
Analysts Set New Price Targets
GXAI has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Gaxos.ai in a report on Monday, December 22nd. Wall Street Zen cut Gaxos.ai to a “strong sell” rating in a research report on Saturday, March 7th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.
Check Out Our Latest Analysis on GXAI
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.