NEXGEL, Inc. (NASDAQ:NXGL) Sees Large Drop in Short Interest

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

NEXGEL Stock Down 1.1 %

NXGL stock traded down $0.03 during midday trading on Tuesday, reaching $2.82. 94,649 shares of the company’s stock traded hands, compared to its average volume of 102,621. The company has a quick ratio of 0.93, a current ratio of 1.51 and a debt-to-equity ratio of 0.19. The firm’s fifty day moving average price is $3.60 and its 200-day moving average price is $3.26. NEXGEL has a 52 week low of $1.84 and a 52 week high of $5.10. The company has a market cap of $19.14 million, a price-to-earnings ratio of -4.86 and a beta of 0.57.

Hedge Funds Weigh In On NEXGEL

A number of hedge funds have recently added to or reduced their stakes in NXGL. Northeast Financial Group Inc. lifted its holdings in shares of NEXGEL by 168.8% in the third quarter. Northeast Financial Group Inc. now owns 31,848 shares of the company’s stock valued at $82,000 after purchasing an additional 20,000 shares in the last quarter. IFP Advisors Inc bought a new position in NEXGEL during the 4th quarter valued at $49,000. Virtu Financial LLC purchased a new position in NEXGEL during the 4th quarter worth $48,000. Geode Capital Management LLC grew its stake in shares of 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 acquiring an additional 3,302 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of NEXGEL by 456.4% in the fourth 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 last quarter. Institutional investors and hedge funds own 2.21% of the company’s stock.

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.