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

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

Institutional Investors Weigh In On NEXGEL

Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its holdings in shares of NEXGEL by 456.4% during 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 period. Geode Capital Management LLC increased its holdings in shares of NEXGEL by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 60,142 shares of the company’s stock valued at $268,000 after purchasing an additional 3,302 shares during the period. Northeast Financial Group Inc. increased its holdings 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 purchasing an additional 20,000 shares during the period. Two Sigma Securities LLC acquired a new position in shares of NEXGEL during the fourth quarter valued at $54,000. Finally, IFP Advisors Inc acquired a new position in shares of NEXGEL during the fourth quarter valued at $49,000. 2.21% of the stock is owned by institutional investors and hedge funds.

NEXGEL Stock Performance

NASDAQ NXGL traded up $0.16 during trading hours on Friday, hitting $3.53. The company had a trading volume of 58,632 shares, compared to its average volume of 78,769. NEXGEL has a fifty-two week low of $1.84 and a fifty-two week high of $5.10. 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 business has a fifty day simple moving average of $3.84 and a 200-day simple moving average of $3.22. The firm has a market cap of $23.97 million, a P/E ratio of -6.09 and a beta of 0.57.

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.