Short Interest in NexGel, Inc. (NASDAQ:NXGL) Expands By 175.8%

NexGel, Inc. (NASDAQ:NXGL) saw a large growth in short interest in April. As of April 30th, there was short interest totaling 335,976 shares, a growth of 175.8% from the April 15th total of 121,810 shares. Based on an average daily trading volume, of 543,697 shares, the days-to-cover ratio is currently 0.6 days. Approximately 4.8% of the shares of the company are short sold.

NexGel Price Performance

Shares of NASDAQ:NXGL opened at $0.51 on Friday. The firm’s 50 day moving average price is $0.69 and its 200-day moving average price is $1.31. NexGel has a twelve month low of $0.48 and a twelve month high of $2.89. The company has a quick ratio of 0.75, a current ratio of 1.47 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $4.51 million, a PE ratio of -1.27 and a beta of 0.74.

NexGel (NASDAQ:NXGL) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.04). NexGel had a negative return on equity of 62.14% and a negative net margin of 28.54%.The business had revenue of $2.65 million during the quarter, compared to the consensus estimate of $3.91 million.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NXGL. Weiss Ratings restated a “sell (d-)” rating on shares of NexGel in a research report on Thursday, January 22nd. Maxim Group lowered their price objective on shares of NexGel from $6.00 to $2.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $2.00.

Institutional Investors Weigh In On NexGel

Hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP bought a new stake in shares of NexGel during the 3rd quarter valued at $26,000. Flaharty Asset Management LLC bought a new position in shares of NexGel in the third quarter worth about $59,000. Citadel Advisors LLC bought a new position in shares of NexGel in the third quarter worth about $67,000. Jane Street Group LLC bought a new position in shares of NexGel in the fourth quarter worth about $47,000. Finally, Board of Trustees of The Leland Stanford Junior University bought a new position in shares of NexGel in the fourth quarter worth about $52,000. Institutional investors own 2.21% of the company’s stock.

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).