Short Interest in NEXGEL, Inc. (NASDAQ:NXGL) Grows By 167.1%

NEXGEL, Inc. (NASDAQ:NXGL) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 113,500 shares, a growth of 167.1% from the November 30th total of 42,500 shares. Currently, 2.2% of the company’s shares are sold short. Based on an average daily trading volume, of 104,600 shares, the days-to-cover ratio is currently 1.1 days.

NEXGEL Trading Down 1.9 %

NEXGEL stock traded down $0.09 during trading on Friday, reaching $4.70. The company had a trading volume of 97,789 shares, compared to its average volume of 49,506. NEXGEL has a 12-month low of $1.84 and a 12-month high of $5.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.93 and a current ratio of 1.51. The stock’s 50 day moving average price is $3.55 and its two-hundred day moving average price is $2.90. The firm has a market capitalization of $31.92 million, a price-to-earnings ratio of -8.10 and a beta of 0.76.

Hedge Funds Weigh In On NEXGEL

An institutional investor recently raised its position in NEXGEL stock. Northeast Financial Group Inc. grew its position in NEXGEL, Inc. (NASDAQ:NXGL) by 168.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,848 shares of the company’s stock after purchasing an additional 20,000 shares during the period. Northeast Financial Group Inc. owned approximately 0.50% of NEXGEL worth $82,000 as of its most recent SEC filing. 2.21% of the stock is currently owned by institutional investors and hedge funds.

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.