NexGel, Inc. (NASDAQ:NXGL) Short Interest Up 4,758.2% in March
by Michael Walen · The Markets DailyNexGel, Inc. (NASDAQ:NXGL – Get Free Report) was the recipient of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 200,109 shares, a growth of 4,758.2% from the February 26th total of 4,119 shares. Approximately 3.1% of the shares of the company are short sold. Based on an average daily trading volume, of 1,243,967 shares, the days-to-cover ratio is presently 0.2 days.
NexGel Stock Performance
NXGL opened at $0.68 on Thursday. The company has a current ratio of 1.69, a quick ratio of 1.08 and a debt-to-equity ratio of 0.14. NexGel has a 12-month low of $0.65 and a 12-month high of $3.19. The firm has a 50 day moving average of $1.20 and a two-hundred day moving average of $1.78. The firm has a market capitalization of $5.50 million, a PE ratio of -1.83 and a beta of 0.62.
Wall Street Analyst Weigh In
NXGL has been the subject of a number of research analyst reports. Maxim Group reduced their target price on NexGel from $6.00 to $2.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NexGel in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $2.00.
Check Out Our Latest Stock Report on NexGel
Institutional Investors Weigh In On NexGel
Several hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP purchased a new position in shares of NexGel during the 3rd quarter valued at about $26,000. Jane Street Group LLC acquired a new stake in NexGel during the fourth quarter worth about $47,000. Board of Trustees of The Leland Stanford Junior University purchased a new position in NexGel during the fourth quarter valued at approximately $52,000. Flaharty Asset Management LLC acquired a new position in NexGel in the third quarter valued at approximately $59,000. Finally, Citadel Advisors LLC acquired a new position in NexGel in the third quarter valued at approximately $67,000. 2.21% of the stock is owned by hedge funds and other institutional investors.
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).