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

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

NexGel Trading Down 3.4%

NASDAQ NXGL opened at $4.10 on Thursday. 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 fifty day moving average price is $4.63 and its 200 day moving average price is $11.59. The company has a market capitalization of $2.01 million, a price-to-earnings ratio of -0.29 and a beta of 0.81. NexGel has a 12 month low of $3.00 and a 12 month high of $41.60.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NXGL shares. Zacks Research raised shares of NexGel to a “hold” rating in a research report on Friday, October 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of NexGel in a report on Friday, October 9th. Finally, Maxim Group cut NexGel from a “buy” rating to a “hold” rating in a research note on Monday, August 24th. 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.com, the stock has a consensus rating of “Reduce” and a consensus price target of $40.00.

Hedge Funds Weigh In On NexGel

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