NEXGEL, Inc. (NASDAQ:NXGL) Sees Significant Increase in Short Interest

NEXGEL, Inc. (NASDAQ:NXGL) was the target of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 131,100 shares, a growth of 14.7% from the January 15th total of 114,300 shares. Approximately 2.5% of the company’s shares are short sold. Based on an average daily volume of 128,900 shares, the short-interest ratio is currently 1.0 days.

NEXGEL Trading Up 4.7 %

Shares of NEXGEL stock traded up $0.16 on Monday, reaching $3.53. The company had a trading volume of 58,632 shares, compared to its average volume of 78,769. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.51 and a quick ratio of 0.93. NEXGEL has a 1 year low of $1.84 and a 1 year high of $5.10. The firm has a market cap of $23.97 million, a price-to-earnings ratio of -6.09 and a beta of 0.57. The firm’s 50-day moving average price is $3.84 and its two-hundred day moving average price is $3.22.

Institutional Investors Weigh In On NEXGEL

A number of institutional investors and hedge funds have recently modified their holdings of NXGL. Geode Capital Management LLC increased its position in NEXGEL by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 60,142 shares of the company’s stock valued at $268,000 after purchasing an additional 3,302 shares during the period. Virtu Financial LLC bought a new position in shares of NEXGEL during the fourth quarter valued at approximately $48,000. IFP Advisors Inc purchased a new position in NEXGEL during the fourth quarter valued at approximately $49,000. Two Sigma Securities LLC bought a new position in NEXGEL in the fourth quarter worth approximately $54,000. Finally, Northeast Financial Group Inc. raised its stake in NEXGEL by 168.8% in the third quarter. Northeast Financial Group Inc. now owns 31,848 shares of the company’s stock worth $82,000 after buying an additional 20,000 shares in the last quarter. 2.21% of the stock is owned by institutional investors.

About NEXGEL

NEXGEL, Inc manufactures high water content, electron beam cross-linked, and aqueous polymer hydrogels and gels. Its products are used for wound care, medical diagnostics, transdermal drug delivery, and cosmetics. The company was formerly known as AquaMed Technologies, Inc and changed its name to NEXGEL, Inc in November 2019.