Short Interest in NexGel, Inc. (NASDAQ:NXGL) Grows By 43.2%

NexGel, Inc. (NASDAQ:NXGL) was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totaling 121,810 shares, a growth of 43.2% from the March 31st total of 85,078 shares. Based on an average daily trading volume, of 151,076 shares, the days-to-cover ratio is presently 0.8 days. Currently, 1.8% of the company’s stock are sold short.

Institutional Investors Weigh In On NexGel

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

NexGel Price Performance

Shares of NASDAQ:NXGL opened at $0.61 on Tuesday. The firm has a market cap of $5.13 million, a price-to-earnings ratio of -1.59 and a beta of 0.85. NexGel has a 1 year low of $0.56 and a 1 year high of $2.97. The company has a current ratio of 1.47, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $0.83 and a 200 day simple moving average of $1.47.

NexGel (NASDAQ:NXGL) last announced its earnings results on Tuesday, March 31st. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). NexGel had a negative return on equity of 56.90% and a negative net margin of 26.27%.The firm had revenue of $2.80 million during the quarter, compared to the consensus estimate of $3.24 million.

Wall Street Analyst Weigh In

NXGL has been the topic of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of NexGel in a research report on Thursday, January 22nd. Maxim Group reduced their price target 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 equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $2.00.

About NexGel

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).