NexGel, Inc. (NASDAQ:NXGL) Shares Shorted: Short Interest Up 63.4% in September

NexGel, Inc. (NASDAQ:NXGL) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totaling 322,449 shares, a growth of 63.4% from the September 15th total of 197,339 shares. Based on an average trading volume of 588,839 shares, the days-to-cover ratio is presently 0.5 days. Approximately 4.1% of the shares of the stock are short sold.

Institutional Trading of NexGel

An institutional investor recently bought a new position in NexGel stock. Empery Asset Management LP acquired a new position in shares of NexGel, Inc. (NASDAQ:NXGL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 90,000 shares of the company’s stock, valued at approximately $3,474,000. Empery Asset Management LP owned about 0.98% of NexGel at the end of the most recent quarter. 2.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on NXGL shares. Weiss Ratings reissued a “sell (e+)” rating on shares of NexGel in a report on Friday, October 9th. Maxim Group downgraded shares of NexGel from a “buy” rating to a “hold” rating in a research note on Monday, August 24th. Finally, Zacks Research raised shares of NexGel to a “hold” rating in a report on Friday, October 2nd. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $40.00.

NexGel Stock Up 7.9%

Shares of NASDAQ:NXGL opened at $5.59 on Friday. NexGel has a 12 month low of $3.00 and a 12 month high of $57.00. The company’s 50-day moving average price is $5.87 and its two-hundred day moving average price is $9.20. The company has a quick ratio of 0.27, a current ratio of 0.43 and a debt-to-equity ratio of 0.68. The firm has a market cap of $2.74 million, a P/E ratio of -0.39 and a beta of 0.82.

NexGel (NASDAQ:NXGL) last released its earnings results on Friday, August 14th. The company reported ($8.00) EPS for the quarter, missing the consensus estimate of ($2.40) by ($5.60). 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 during the quarter, compared to analyst estimates of $4.32 million. As a group, research analysts forecast that NexGel will post -18.80 EPS for the current fiscal year.

About NexGel

NexGel, Inc is a specialty materials company that develops and manufactures high-water-content hydrogels. Its products are designed to provide cooling, cushioning, conductivity, and moisture management for use in healthcare, consumer, and industrial applications.

The company’s hydrogel products are used in areas such as wound care, burn treatment, medical electrodes, ultrasound and other diagnostic procedures, radiation therapy, and skin-contact applications. NexGel also offers hydrogel-based products for consumer and personal-care uses, including soothing and moisturizing applications.

NexGel manufactures its products in the United States and serves customers through business-to-business relationships, including medical-product manufacturers and other commercial partners.