NexGel, Inc. (NASDAQ:NXGL) Stock Short Interest Drops 77.0%

NexGel, Inc. (NASDAQ:NXGL) saw a large decline in short interest in the month of October. As of October 30th, there was short interest totaling 24,046 shares, a decline 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 presently 0.5 days. Currently, 6.1% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NXGL shares. Zacks Research raised NexGel to a “hold” rating in a research report on Friday, October 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NexGel in a report on Friday, October 9th. Finally, Maxim Group downgraded NexGel from a “buy” rating to a “hold” rating in a research report on Monday, August 24th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, NexGel has a consensus rating of “Reduce” and a consensus target price of $40.00.

NexGel Price Performance

Shares of NASDAQ:NXGL traded up $0.10 during midday trading on Friday, reaching $3.88. 13,064 shares of the company’s stock were exchanged, compared to its average volume of 43,216. 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 company’s 50 day simple moving average is $4.57 and its two-hundred day simple moving average is $11.45. NexGel has a 12 month low of $3.00 and a 12 month high of $41.20. The firm has a market capitalization of $1.90 million, a PE ratio of -0.27 and a beta of 0.81.

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

Hedge Funds Weigh In On NexGel

A hedge fund recently bought a new stake in NexGel stock. Empery Asset Management LP purchased a new position in shares of NexGel, Inc. (NASDAQ:NXGL) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 90,000 shares of the company’s stock, valued at approximately $3,474,000. Empery Asset Management LP owned approximately 0.98% of NexGel as of its most recent SEC filing. 2.21% of the stock is owned by hedge funds and other institutional investors.

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.