NexGel, Inc. (NASDAQ:NXGL) Short Interest Up 104.7% in August

NexGel, Inc. (NASDAQ:NXGL) was the target of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 268,561 shares, an increase of 104.7% from the July 30th total of 131,227 shares. Approximately 3.6% of the shares of the stock are sold short. Based on an average trading volume of 565,157 shares, the days-to-cover ratio is currently 0.5 days.

Analyst Upgrades and Downgrades

NXGL has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NexGel in a research note on Monday, July 13th. Maxim Group downgraded NexGel from a “buy” rating to a “hold” rating in a research note on Monday, August 24th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $2.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP bought a new stake in NexGel in the third quarter worth $26,000. Citadel Advisors LLC purchased a new stake in NexGel during the third quarter valued at $67,000. Jane Street Group LLC bought a new position in NexGel during the fourth quarter valued at $47,000. Board of Trustees of The Leland Stanford Junior University bought a new position in NexGel during the fourth quarter valued at $52,000. Finally, Susquehanna International Group LLP purchased a new position in shares of NexGel in the 3rd quarter worth $106,000. 2.21% of the stock is owned by hedge funds and other institutional investors.

NexGel Price Performance

NASDAQ:NXGL opened at $0.35 on Friday. The business’s 50-day moving average is $0.45 and its 200 day moving average is $0.65. NexGel has a 12 month low of $0.30 and a 12 month high of $2.89. The company has a market capitalization of $3.43 million, a P/E ratio of -0.50 and a beta of 0.78. The company has a current ratio of 0.43, a quick ratio of 0.27 and a debt-to-equity ratio of 0.68.

NexGel (NASDAQ:NXGL) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.28). NexGel had a negative net margin of 51.26% and a negative return on equity of 121.18%. The firm had revenue of $3.69 million for the quarter, compared to analysts’ expectations of $4.32 million.

NexGel Company Profile

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).