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

NexGel, Inc. (NASDAQ:NXGL) was the target of a large decline in short interest in the month of October. As of October 30th, there was short interest totaling 24,046 shares, a decline of 77.0% from the October 15th total of 104,742 shares. Currently, 6.1% of the company’s shares are short sold. Based on an average trading volume of 46,043 shares, the short-interest ratio is currently 0.5 days.

Wall Street Analysts Forecast Growth

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

NexGel Stock Down 3.4%

NexGel stock opened at $4.10 on Thursday. NexGel has a twelve month low of $3.00 and a twelve month high of $41.60. The stock’s fifty day simple moving average is $4.63 and its 200-day simple moving average is $11.59. The company has a current ratio of 0.43, a quick ratio of 0.27 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $2.01 million, a P/E ratio of -0.29 and a beta of 0.81.

NexGel (NASDAQ:NXGL) last released its earnings results on Friday, August 14th. The company reported ($8.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $3.69 million during the quarter, compared to analysts’ expectations of $4.32 million. As a group, equities analysts expect that NexGel will post -18.80 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NexGel

A hedge fund recently bought a new stake in NexGel stock. Empery Asset Management LP bought a new stake in NexGel, Inc. (NASDAQ:NXGL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 90,000 shares of the company’s stock, valued at approximately $3,474,000. Empery Asset Management LP owned approximately 0.98% of NexGel as of its most recent SEC filing. Institutional investors own 2.21% of the company’s stock.

NexGel Company Profile

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.