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

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

Wall Street Analyst Weigh In

Separately, Maxim Group decreased their price target on shares of NexGel from $6.00 to $2.00 and set a “buy” rating for the company in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $2.00.

Hedge Funds Weigh In On NexGel

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

NexGel Stock Down 6.6%

NXGL traded down $0.04 during midday trading on Friday, hitting $0.55. 184,280 shares of the company’s stock traded hands, compared to its average volume of 133,176. The company has a market cap of $5.09 million, a PE ratio of -1.38 and a beta of 0.74. The stock’s fifty day simple moving average is $0.59 and its 200-day simple moving average is $1.09. 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 has a one year low of $0.48 and a one year high of $2.89.

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

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).