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

NEXGEL, Inc. (NASDAQ:NXGL) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 15,600 shares, an increase of 23.8% from the August 15th total of 12,600 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average trading volume of 47,600 shares, the short-interest ratio is presently 0.3 days.

NEXGEL Price Performance

NXGL stock traded down $0.05 during trading hours on Tuesday, hitting $2.65. 16,086 shares of the stock traded hands, compared to its average volume of 29,280. The stock has a 50-day simple moving average of $2.66 and a 200 day simple moving average of $2.44. The company has a market cap of $16.50 million, a P/E ratio of -4.82 and a beta of 0.77. NEXGEL has a one year low of $1.46 and a one year high of $3.24. The company has a current ratio of 1.36, a quick ratio of 0.81 and a debt-to-equity ratio of 0.22.

NEXGEL (NASDAQ:NXGL) last announced its quarterly earnings data on Monday, August 19th. The company reported ($0.14) EPS for the quarter. NEXGEL had a negative net margin of 67.80% and a negative return on equity of 64.21%. The company had revenue of $1.44 million for the quarter.

Institutional Investors Weigh In On NEXGEL

An institutional investor recently bought a new position in NEXGEL stock. Northeast Financial Group Inc. purchased a new position in NEXGEL, Inc. (NASDAQ:NXGL) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 11,848 shares of the company’s stock, valued at approximately $32,000. Northeast Financial Group Inc. owned approximately 0.19% of NEXGEL at the end of the most recent quarter. 2.21% of the stock is currently 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.