Short Interest in NexGel, Inc. (NASDAQ:NXGL) Declines By 57.5%
by Mitch Edgeman · The Markets DailyNexGel, Inc. (NASDAQ:NXGL – Get Free Report) saw a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 85,078 shares, a decline of 57.5% from the March 15th total of 200,109 shares. Based on an average trading volume of 142,821 shares, the days-to-cover ratio is presently 0.6 days. Currently, 1.3% of the shares of the stock are sold short.
Institutional Investors Weigh In On NexGel
Several institutional investors and hedge funds have recently added to or reduced their stakes in NXGL. Dimensional Fund Advisors LP acquired a new stake in NexGel during the third quarter worth 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 acquired a new stake in NexGel during the fourth quarter worth about $52,000. Flaharty Asset Management LLC acquired a new stake in NexGel during the third quarter worth about $59,000. Finally, Citadel Advisors LLC acquired a new stake in NexGel during the third quarter worth about $67,000. 2.21% of the stock is currently owned by institutional investors and hedge funds.
NexGel Trading Down 7.7%
NexGel stock traded down $0.05 during trading on Friday, hitting $0.57. The company’s stock had a trading volume of 61,065 shares, compared to its average volume of 126,987. The stock has a market capitalization of $4.85 million, a price-to-earnings ratio of -1.51 and a beta of 0.85. The stock’s fifty day moving average is $0.97 and its 200 day moving average is $1.62. NexGel has a 1-year low of $0.56 and a 1-year high of $3.02. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.47.
NexGel (NASDAQ:NXGL – Get Free Report) last released its earnings results on Tuesday, March 31st. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The business had revenue of $2.80 million during the quarter, compared to analyst estimates of $3.24 million. NexGel had a negative net margin of 26.27% and a negative return on equity of 56.90%.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on NXGL. Weiss Ratings reissued a “sell (d-)” rating on shares of NexGel in a report on Thursday, January 22nd. Maxim Group cut their price target on NexGel from $6.00 to $2.00 and set a “buy” rating for the company in a report on Thursday, March 12th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, NexGel currently has a consensus rating of “Hold” and a consensus target price of $2.00.
Check Out Our Latest Stock Report on NexGel
NexGel Company Profile
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).