Short Interest in NexGel, Inc. (NASDAQ:NXGL) Drops By 61.8%

NexGel, Inc. (NASDAQ:NXGL) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totaling 40,752 shares, a drop of 61.8% from the May 31st total of 106,691 shares. Approximately 0.6% of the company’s shares are short sold. Based on an average trading volume of 130,920 shares, the short-interest ratio is presently 0.3 days.

NexGel Stock Performance

Shares of NXGL stock opened at $0.52 on Friday. The company has a market capitalization of $4.80 million, a price-to-earnings ratio of -1.30 and a beta of 0.74. NexGel has a 1-year low of $0.48 and a 1-year high of $2.89. The company has a current ratio of 1.70, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. The stock’s fifty day simple moving average is $0.58 and its 200-day simple moving average is $1.01.

NexGel (NASDAQ:NXGL) last issued its earnings results on Thursday, May 14th. The company reported ($0.11) earnings per share (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 company had revenue of $2.65 million for the quarter, compared to analyst estimates of $3.91 million.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NXGL. Susquehanna International Group LLP acquired a new stake in shares of NexGel during the 3rd quarter valued at about $106,000. Board of Trustees of The Leland Stanford Junior University bought a new position in NexGel during the fourth quarter valued at approximately $52,000. Jane Street Group LLC bought a new position in NexGel during the fourth quarter valued at approximately $47,000. Citadel Advisors LLC acquired a new stake in NexGel in the third quarter valued at approximately $67,000. Finally, Dimensional Fund Advisors LP acquired a new stake in NexGel in the third quarter valued at approximately $26,000. 2.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

NexGel Company Profile

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).