NexGel, Inc. (NASDAQ:NXGL) Stock Short Interest Report for September

NexGel, Inc. (NASDAQ:NXGL) was the target 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. Currently, 4.1% of the shares of the stock are short sold. Based on an average daily volume of 588,839 shares, the short-interest ratio is presently 0.5 days.

Analyst Ratings Changes

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

Hedge Funds Weigh In On NexGel

An institutional investor recently bought a new position in NexGel stock. Empery Asset Management LP purchased a new stake in shares of NexGel, Inc. (NASDAQ:NXGL) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 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 reporting period. Institutional investors own 2.21% of the company’s stock.

NexGel Price Performance

Shares of NXGL stock opened at $5.18 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.43 and a quick ratio of 0.27. The firm’s 50-day moving average is $5.91 and its two-hundred day moving average is $9.23. NexGel has a 12 month low of $3.00 and a 12 month high of $57.00. The company has a market capitalization of $2.54 million, a PE ratio of -0.36 and a beta of 0.82.

NexGel (NASDAQ:NXGL) last posted 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). 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. Analysts predict that NexGel will post -18.80 earnings per share for the current 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.