Short Interest in NexGel, Inc. (NASDAQ:NXGL) Expands By 4,758.2%

NexGel, Inc. (NASDAQ:NXGL) was the recipient of a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 200,109 shares, an increase of 4,758.2% from the February 26th total of 4,119 shares. Approximately 3.1% of the shares of the company are sold short. Based on an average daily volume of 1,243,967 shares, the short-interest ratio is presently 0.2 days. Based on an average daily volume of 1,243,967 shares, the short-interest ratio is presently 0.2 days. Approximately 3.1% of the shares of the company are sold short.

Hedge Funds Weigh In On NexGel

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP purchased a new stake in shares of NexGel in the third quarter valued at approximately $26,000. Jane Street Group LLC purchased a new position in NexGel in the fourth quarter worth $47,000. Board of Trustees of The Leland Stanford Junior University purchased a new position in NexGel in the fourth quarter worth $52,000. Flaharty Asset Management LLC acquired a new stake in shares of NexGel in the third quarter valued at about $59,000. Finally, Citadel Advisors LLC acquired a new stake in shares of NexGel during the 3rd quarter valued at approximately $67,000. 2.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NXGL has been the subject of a number of recent research reports. Maxim Group decreased their price objective on NexGel from $6.00 to $2.00 and set a “buy” rating for the company in a research report on Thursday, March 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NexGel in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.00.

NexGel Trading Down 4.9%

NASDAQ NXGL opened at $0.68 on Wednesday. The stock has a market capitalization of $5.55 million, a P/E ratio of -1.84 and a beta of 0.62. NexGel has a 52-week low of $0.65 and a 52-week high of $3.25. The firm has a 50-day moving average price of $1.22 and a 200 day moving average price of $1.79. The company has a quick ratio of 1.08, a current ratio of 1.69 and a debt-to-equity ratio of 0.14.

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).