NexGel, Inc. (NASDAQ:NXGL) Sees Large Drop in Short Interest

NexGel, Inc. (NASDAQ:NXGL) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totaling 104,742 shares, a decrease of 67.5% from the September 30th total of 322,449 shares. Currently, 26.8% of the company’s stock are sold short. Based on an average daily volume of 404,159 shares, the days-to-cover ratio is currently 0.3 days.

NexGel Price Performance

NexGel stock traded down $0.32 on Friday, reaching $3.56. The company’s stock had a trading volume of 59,998 shares, compared to its average volume of 43,694. NexGel has a twelve month low of $3.00 and a twelve month high of $53.60. The company has a market cap of $1.73 million, a price-to-earnings ratio of -0.25 and a beta of 0.82. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.27 and a current ratio of 0.43. The business’s fifty day moving average price is $5.22 and its 200 day moving average price is $12.90.

NexGel (NASDAQ:NXGL) last issued its quarterly 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 return on equity of 121.18% and a negative net margin of 51.26%. The business had revenue of $3.69 million for the quarter, compared to analyst estimates of $4.32 million. Equities analysts expect that NexGel will post -18.80 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NexGel

An institutional investor recently bought a new position in NexGel stock. Empery Asset Management LP purchased a new position in shares of NexGel, Inc. (NASDAQ:NXGL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 90,000 shares of the company’s stock, valued at approximately $3,474,000. Empery Asset Management LP owned 0.98% of NexGel as of its most recent filing with the Securities and Exchange Commission (SEC). 2.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

About NexGel

NexGel, Inc (NASDAQ:NXGL) develops and manufactures high-water-content hydrogel products for medical, consumer and other specialized applications. The company uses proprietary formulations and electron-beam processing to produce flexible, skin-compatible products designed to retain moisture and provide cooling, cushioning or conductive properties.

Its product applications include wound care, burn and surgical care, pain management, medical diagnostics and personal wellness. NexGel supplies hydrogel sheets, patches and related components used in products such as wound dressings, therapeutic pads and medical electrodes.