NexGel, Inc. (NASDAQ:NXGL) Shares Shorted: Short Interest Down 50.1% in September

NexGel, Inc. (NASDAQ:NXGL) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 197,339 shares, a drop of 50.1% from the August 31st total of 395,627 shares. Based on an average daily trading volume, of 243,093 shares, the short-interest ratio is currently 0.8 days. Approximately 2.5% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

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

Institutional Trading of NexGel

An institutional investor recently bought a new position in NexGel stock. Empery Asset Management LP acquired a new stake in shares of NexGel, Inc. (NASDAQ:NXGL) during the second quarter, according to the company in its most recent filing 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 0.98% of NexGel at the end of the most recent reporting period. 2.21% of the stock is currently owned by hedge funds and other institutional investors.

NexGel Stock Performance

NXGL stock traded down $0.00 during trading on Wednesday, reaching $0.17. 318,885 shares of the company’s stock were exchanged, compared to its average volume of 444,851. The company has a quick ratio of 0.27, a current ratio of 0.43 and a debt-to-equity ratio of 0.68. NexGel has a 1-year low of $0.16 and a 1-year high of $2.89. The company’s fifty day moving average price is $0.35 and its 200-day moving average price is $0.51. The firm has a market cap of $1.68 million, a PE ratio of -0.24 and a beta of 0.76.

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

About NexGel

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.