NexGel, Inc. (NASDAQ:NXGL – Get Free Report) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 322,449 shares, a growth of 63.4% from the September 15th total of 197,339 shares. Approximately 4.1% of the company’s shares are short sold. Based on an average daily volume of 588,839 shares, the short-interest ratio is currently 0.5 days.
Institutional Trading of NexGel
An institutional investor recently bought a new stake in NexGel stock. Empery Asset Management LP acquired a new stake in NexGel, Inc. (NASDAQ:NXGL – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 90,000 shares of the company’s stock, valued at approximately $3,474,000. Empery Asset Management LP owned approximately 0.98% of NexGel at the end of the most recent quarter. 2.21% of the stock is currently owned by hedge funds and other institutional investors.
NexGel Trading Down 5.1%
Shares of NXGL stock opened at $5.18 on Friday. NexGel has a fifty-two week low of $3.00 and a fifty-two week high of $57.00. The company has a 50 day moving average price of $5.91 and a 200 day moving average price of $9.23. The stock has a market capitalization of $2.54 million, a P/E ratio of -0.36 and a beta of 0.82. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.27 and a current ratio of 0.43.
NexGel (NASDAQ:NXGL – Get Free Report) last released its earnings results on Friday, August 14th. The company reported ($8.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.40) by ($5.60). NexGel had a negative return on equity of 121.18% and a negative net margin of 51.26%. The business had revenue of $3.69 million for the quarter, compared to analyst estimates of $4.32 million. Equities research analysts predict that NexGel will post -18.80 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
NXGL has been the subject of several research reports. Zacks Research upgraded shares of NexGel to a “hold” rating in a report on Friday, October 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of NexGel in a research report on Friday, October 9th. Finally, Maxim Group cut NexGel from a “buy” rating to a “hold” rating in a research note on Monday, August 24th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, NexGel presently has an average rating of “Reduce” and an average target price of $40.00.
Get Our Latest Stock Report on NXGL
About NexGel
NexGel, Inc is a specialty materials company that develops and manufactures high-water-content hydrogels. Its products are designed to provide cooling, cushioning, conductivity, and moisture management for use in healthcare, consumer, and industrial applications.
The company’s hydrogel products are used in areas such as wound care, burn treatment, medical electrodes, ultrasound and other diagnostic procedures, radiation therapy, and skin-contact applications. NexGel also offers hydrogel-based products for consumer and personal-care uses, including soothing and moisturizing applications.
NexGel manufactures its products in the United States and serves customers through business-to-business relationships, including medical-product manufacturers and other commercial partners.
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