NexGel, Inc. (NASDAQ:NXGL) Stock Short Interest Drops 50.1%

NexGel, Inc. (NASDAQ:NXGL) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totaling 197,339 shares, a decrease of 50.1% from the August 31st total of 395,627 shares. Currently, 2.5% of the company’s stock are short sold. Based on an average trading volume of 243,093 shares, the days-to-cover ratio is currently 0.8 days.

NexGel Stock Performance

Shares of NXGL stock traded down $0.01 during trading hours on Tuesday, reaching $0.16. The company had a trading volume of 91,522 shares, compared to its average volume of 443,943. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.27 and a current ratio of 0.43. The business has a fifty day moving average price of $0.36 and a 200-day moving average price of $0.51. NexGel has a one year low of $0.16 and a one year high of $2.89. The firm has a market cap of $1.59 million, a PE ratio of -0.23 and a beta of 0.76.

NexGel (NASDAQ:NXGL) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.28). NexGel had a negative net margin of 51.26% and a negative return on equity of 121.18%. The company had revenue of $3.69 million for the quarter, compared to the consensus estimate of $4.32 million.

Analyst Ratings Changes

Several research analysts have recently weighed in on NXGL shares. Weiss Ratings restated a “sell (e+)” rating on shares of NexGel in a research note on Monday, July 13th. Maxim Group cut NexGel from a “buy” rating to a “hold” rating in a research report on Monday, August 24th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $2.00.

Hedge Funds Weigh In On NexGel

An institutional investor recently bought a new position in NexGel stock. Empery Asset Management LP purchased a new position in NexGel, Inc. (NASDAQ:NXGL) during the second quarter, according to its most recent 13F filing with the Securities and 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 and hedge funds own 2.21% of the company’s stock.

NexGel Company Profile

NexGel, Inc develops and manufactures high-water-content, electron-beam-crosslinked aqueous polymer hydrogels. Its products are designed to provide electrical conductivity, moisture retention, cushioning, and cooling for a range of medical, consumer, and industrial applications.

The company’s hydrogel products are used in medical electrodes for applications such as electrocardiography, neuromuscular stimulation, and defibrillation, as well as in ultrasound procedures. NexGel also supplies nonconductive hydrogels for wound care, burn care, scar treatment, and cosmetic products, along with specialized formulations for veterinary and other commercial uses.

Based in Langhorne, Pennsylvania, NexGel serves customers through business-to-business relationships with medical-device manufacturers and other product companies.