Short Interest in Nyxoah SA (NASDAQ:NYXH) Drops By 63.9%

Key Points

• Short interest in Nyxoah SA fell sharply in late June, dropping 63.9% to 298,468 shares from 826,117 shares two weeks earlier. That leaves about 0.9% of the company’s shares short and a days-to-cover ratio of 1.0.
• Analyst sentiment is mixed, but generally cautious, with a consensus rating of “Hold” and an average price target of $5.96. Recent target cuts and downgrades include Stifel lowering its target to $3.00 and Piper Sandler trimming its target to $7.00.
• Nyxoah remains a small, volatile medical device stock trading at $1.71, well below its 200-day average of $3.41 and its 1-year high of $8.59. The company beat earnings and revenue estimates in its latest report, but it continues to post losses.

Nyxoah SA (NASDAQ:NYXH - Get Free Report) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 298,468 shares, a decline of 63.9% from the June 15th total of 826,117 shares. Based on an average trading volume of 309,898 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.9% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $11.00 price objective on shares of Nyxoah in a research note on Monday, March 23rd. Robert W. Baird set a $2.85 price target on shares of Nyxoah in a report on Thursday. Weiss Ratings lowered shares of Nyxoah from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, May 22nd. Stifel Nicolaus decreased their price objective on shares of Nyxoah from $5.00 to $3.00 and set a "hold" rating for the company in a research report on Wednesday, June 17th. Finally, Piper Sandler reissued an "overweight" rating and set a $7.00 target price (down from $9.00) on shares of Nyxoah in a research note on Wednesday, May 13th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $5.96.

Institutional Trading of Nyxoah

A number of institutional investors and hedge funds have recently modified their holdings of NYXH. Bank of America Corp DE raised its position in shares of Nyxoah by 72.4% during the 2nd quarter. Bank of America Corp DE now owns 7,866 shares of the company's stock worth $59,000 after purchasing an additional 3,303 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Nyxoah in the 2nd quarter worth about $70,000. Citadel Advisors LLC purchased a new stake in Nyxoah during the 3rd quarter worth approximately $98,000. Deutsche Bank AG increased its stake in Nyxoah by 40.0% during the 4th quarter. Deutsche Bank AG now owns 35,000 shares of the company's stock worth $161,000 after buying an additional 10,000 shares in the last quarter. Finally, Shay Capital LLC acquired a new position in shares of Nyxoah during the second quarter valued at approximately $374,000.

Nyxoah Stock Performance

Shares of NYXH stock opened at $1.71 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.99 and a quick ratio of 0.88. The company has a market cap of $66.28 million, a price-to-earnings ratio of -0.69 and a beta of 1.61. The stock has a 50 day simple moving average of $2.26 and a 200-day simple moving average of $3.41. Nyxoah has a 1-year low of $1.26 and a 1-year high of $8.59.

Nyxoah (NASDAQ:NYXH - Get Free Report) last announced its earnings results on Tuesday, May 12th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.54) by $0.11. The firm had revenue of $7.38 million for the quarter, compared to analyst estimates of $7.05 million. Nyxoah had a negative return on equity of 163.73% and a negative net margin of 543.21%. On average, equities research analysts expect that Nyxoah will post -1.67 EPS for the current fiscal year.

Nyxoah Company Profile

Nyxoah SA, headquartered in Mont-Saint-Guibert, Belgium, is a medical technology company focused on neuromodulation therapies for sleep‐disordered breathing. Established in 2018, the company's primary offering is the Genio® system, a minimally invasive bilateral hypoglossal nerve stimulator designed to treat moderate to severe obstructive sleep apnea (OSA). By electrically stimulating the genioglossus muscle, the device helps maintain airway patency during sleep, reducing apnea events and improving overall sleep quality.

The Genio system comprises a small, implantable stimulator positioned submentally and an external activation unit worn by the patient.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.