NEXGEL, Inc. (NASDAQ:NXGL) Short Interest Update

NEXGEL, Inc. (NASDAQ:NXGL) was the target of a significant decrease in short interest during the month of February. As of February 15th, there was short interest totalling 106,400 shares, a decrease of 18.8% from the January 31st total of 131,100 shares. Currently, 2.1% of the shares of the company are sold short. Based on an average daily volume of 119,600 shares, the days-to-cover ratio is presently 0.9 days.

NEXGEL Stock Performance

NASDAQ:NXGL traded down $0.03 on Tuesday, reaching $2.82. 94,649 shares of the company’s stock were exchanged, compared to its average volume of 102,621. The stock has a fifty day simple moving average of $3.60 and a 200-day simple moving average of $3.26. 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 52 week low of $1.84 and a 52 week high of $5.10. The firm has a market cap of $19.14 million, a price-to-earnings ratio of -4.86 and a beta of 0.57.

Institutional Trading of NEXGEL

A number of hedge funds and other institutional investors have recently made changes to their positions in NXGL. Northeast Financial Group Inc. increased its position in shares of NEXGEL by 168.8% during the third quarter. Northeast Financial Group Inc. now owns 31,848 shares of the company’s stock valued at $82,000 after buying an additional 20,000 shares during the period. IFP Advisors Inc bought a new stake in NEXGEL during the 4th quarter worth approximately $49,000. Virtu Financial LLC bought a new stake in NEXGEL during the 4th quarter worth approximately $48,000. Geode Capital Management LLC lifted its stake in NEXGEL by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 60,142 shares of the company’s stock worth $268,000 after purchasing an additional 3,302 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in NEXGEL by 456.4% in the 4th quarter. Renaissance Technologies LLC now owns 158,331 shares of the company’s stock valued at $706,000 after purchasing an additional 129,876 shares during the period. 2.21% of the stock is currently owned by institutional investors.

NEXGEL Company Profile

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.