Short Interest in NexGel, Inc. (NASDAQ:NXGL) Drops By 45.5%

NexGel, Inc. (NASDAQ:NXGL) was the target of a significant decline in short interest in the month of May. As of May 29th, there was short interest totaling 106,691 shares, a decline of 45.5% from the May 14th total of 195,747 shares. Based on an average trading volume of 172,013 shares, the days-to-cover ratio is presently 0.6 days. Approximately 1.5% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, Maxim Group dropped their target price on shares of NexGel from $6.00 to $2.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $2.00.

NexGel Stock Performance

NXGL stock traded down $0.04 on Friday, reaching $0.55. 184,280 shares of the company were exchanged, compared to its average volume of 133,176. NexGel has a 12 month low of $0.48 and a 12 month high of $2.89. The stock’s fifty day moving average price is $0.59 and its 200 day moving average price is $1.09. The firm has a market capitalization of $5.09 million, a PE ratio of -1.38 and a beta of 0.74. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.70 and a quick ratio of 1.02.

NexGel (NASDAQ:NXGL) last announced its earnings results on Thursday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.04). NexGel had a negative return on equity of 64.29% and a negative net margin of 28.54%.The company had revenue of $2.65 million for the quarter, compared to the consensus estimate of $3.91 million.

Institutional Investors Weigh In On NexGel

A number of institutional investors have recently bought and sold shares of the business. Board of Trustees of The Leland Stanford Junior University acquired a new stake in NexGel during the fourth quarter worth $52,000. Jane Street Group LLC acquired a new stake in NexGel during the fourth quarter worth $47,000. Susquehanna International Group LLP acquired a new stake in NexGel during the third quarter worth $106,000. Citadel Advisors LLC acquired a new stake in NexGel during the third quarter worth $67,000. Finally, Dimensional Fund Advisors LP acquired a new stake in NexGel during the third quarter worth $26,000. Institutional investors and hedge funds own 2.21% of the company’s stock.

About NexGel

NexGel, Inc (NASDAQ: NXGL) is a development-stage materials science company focused on the research and commercialization of advanced polymer formulations tailored for additive manufacturing and 3D printing applications. Leveraging proprietary expertise in polymer chemistry, NexGel develops high-performance materials designed to meet rigorous mechanical, thermal, and chemical resistance requirements across diverse end markets.

The company’s product pipeline includes custom-engineered resins, powders and elastomeric systems optimized for a range of additive manufacturing processes, including selective laser sintering (SLS), stereolithography (SLA) and fused deposition modeling (FDM).