NexGel, Inc. (NASDAQ:NXGL) Shares Shorted: Short Interest Down 67.5% in October

NexGel, Inc. (NASDAQ:NXGL) was the recipient of a significant 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. Approximately 26.8% of the company’s stock are sold short. Based on an average daily volume of 404,159 shares, the short-interest ratio is currently 0.3 days.

NexGel Stock Performance

Shares of NASDAQ:NXGL traded down $0.09 during midday trading on Thursday, hitting $3.94. The company’s stock had a trading volume of 14,583 shares, compared to its average volume of 43,617. The stock has a market capitalization of $1.93 million, a price-to-earnings ratio of -0.28 and a beta of 0.82. The stock’s 50 day simple moving average is $5.31 and its 200 day simple moving average is $13.04. NexGel has a fifty-two week low of $3.00 and a fifty-two week high of $53.60. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.27 and a current ratio of 0.43.

NexGel (NASDAQ:NXGL) last announced its earnings results on Friday, August 14th. The company reported ($8.00) earnings per share for the quarter, missing the consensus estimate of ($2.40) by ($5.60). The business had revenue of $3.69 million for the quarter, compared to the consensus estimate of $4.32 million. NexGel had a negative net margin of 51.26% and a negative return on equity of 121.18%. As a group, research analysts anticipate that NexGel will post -18.80 earnings per share for the current year.

Institutional Investors Weigh In On NexGel

A hedge fund recently bought a new position in NexGel stock. Empery Asset Management LP purchased a new stake in NexGel, Inc. (NASDAQ:NXGL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 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. 2.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.