NexGel, Inc. (NASDAQ:NXGL) Short Interest Update

NexGel, Inc. (NASDAQ:NXGL) was the recipient of a large decrease in short interest in the month of 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. Based on an average trading volume of 243,093 shares, the short-interest ratio is currently 0.8 days. Currently, 2.5% of the company’s stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in NexGel stock. Empery Asset Management LP purchased 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 institutional investor 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 as of its most recent SEC filing. Institutional investors and hedge funds own 2.21% of the company’s stock.

NexGel Stock Down 8.4%

NexGel stock traded down $0.01 during mid-day trading on Tuesday, hitting $0.16. The company had a trading volume of 91,522 shares, compared to its average volume of 443,943. NexGel has a 12 month low of $0.16 and a 12 month high of $2.89. The company has a market capitalization of $1.59 million, a PE ratio of -0.23 and a beta of 0.76. The stock’s 50 day moving average price is $0.36 and its two-hundred day moving average price is $0.51. The company has a current ratio of 0.43, a quick ratio of 0.27 and a debt-to-equity ratio of 0.68.

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

Analyst Upgrades and Downgrades

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

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.