Short Interest in NEXGEL, Inc. (NASDAQ:NXGL) Expands By 23.8%

NEXGEL, Inc. (NASDAQ:NXGL) was the target of a large increase in short interest during 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. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily volume of 47,600 shares, the days-to-cover ratio is presently 0.3 days.

NEXGEL Price Performance

Shares of NEXGEL stock traded down $0.05 during mid-day trading on Tuesday, reaching $2.65. 16,086 shares of the stock were exchanged, compared to its average volume of 29,280. NEXGEL has a fifty-two week low of $1.46 and a fifty-two week high of $3.24. The company has a market cap of $16.50 million, a price-to-earnings ratio of -4.82 and a beta of 0.77. The firm has a 50-day simple moving average of $2.66 and a 200 day simple moving average of $2.44. 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 posted its quarterly earnings data on Monday, August 19th. The company reported ($0.14) earnings per share for the quarter. NEXGEL had a negative return on equity of 64.21% and a negative net margin of 67.80%. The firm had revenue of $1.44 million for the quarter.

Institutional Investors Weigh In On NEXGEL

A hedge fund recently bought a new stake in NEXGEL stock. Northeast Financial Group Inc. bought a new stake in NEXGEL, Inc. (NASDAQ:NXGL) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,848 shares of the company’s stock, valued at approximately $32,000. Northeast Financial Group Inc. owned approximately 0.19% of NEXGEL as of its most recent filing with the Securities and Exchange Commission (SEC). 2.21% of the stock is owned by institutional investors and hedge funds.

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.