NEXGEL, Inc. (NASDAQ:NXGL) Short Interest Up 14.7% in January

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

Hedge Funds Weigh In On NEXGEL

Institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC purchased a new position in shares of NEXGEL during the 4th quarter valued at approximately $48,000. IFP Advisors Inc purchased a new position in shares of NEXGEL during the 4th quarter valued at approximately $49,000. Two Sigma Securities LLC purchased a new position in shares of NEXGEL during the 4th quarter valued at approximately $54,000. Northeast Financial Group Inc. lifted its stake in 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 during the last quarter. Finally, Geode Capital Management LLC lifted its stake in NEXGEL by 5.8% during the fourth 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 during the last quarter. 2.21% of the stock is currently owned by hedge funds and other institutional investors.

NEXGEL Stock Up 4.7 %

Shares of NEXGEL stock traded up $0.16 on Friday, hitting $3.53. 58,632 shares of the company’s stock traded hands, compared to its average volume of 78,769. The stock has a market cap of $23.97 million, a P/E ratio of -6.09 and a beta of 0.57. 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 50-day moving average is $3.84 and its 200 day moving average is $3.22. NEXGEL has a 52-week low of $1.84 and a 52-week high of $5.10.

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.