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

NEXGEL, Inc. (NASDAQ:NXGL) saw a large decrease in short interest in 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. Based on an average trading volume of 119,600 shares, the days-to-cover ratio is presently 0.9 days. Currently, 2.1% of the shares of the company are short sold.

NEXGEL Stock Performance

NASDAQ NXGL traded up $0.01 on Thursday, reaching $2.85. 32,467 shares of the stock were exchanged, compared to its average volume of 100,031. The company has a current ratio of 1.51, a quick ratio of 0.93 and a debt-to-equity ratio of 0.19. NEXGEL has a one year low of $1.84 and a one year high of $5.10. The firm has a market capitalization of $19.35 million, a PE ratio of -4.91 and a beta of 0.57. The company’s 50-day simple moving average is $3.52 and its two-hundred day simple moving average is $3.26.

Institutional Trading of NEXGEL

Hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC increased its stake in NEXGEL by 456.4% in the 4th quarter. Renaissance Technologies LLC now owns 158,331 shares of the company’s stock worth $706,000 after buying an additional 129,876 shares in the last quarter. Northeast Financial Group Inc. grew 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 worth $82,000 after purchasing an additional 20,000 shares in the last quarter. Two Sigma Securities LLC purchased a new position in NEXGEL in the 4th quarter worth approximately $54,000. IFP Advisors Inc bought a new position in NEXGEL in the 4th quarter worth approximately $49,000. Finally, Virtu Financial LLC purchased a new stake in NEXGEL during the 4th quarter valued at approximately $48,000. 2.21% of the stock is owned by hedge funds and other 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.