NEXGEL, Inc. (NASDAQ:NXGL) Short Interest Up 309.4% in November

NEXGEL, Inc. (NASDAQ:NXGL) was the target of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 104,800 shares, a growth of 309.4% from the October 31st total of 25,600 shares. Approximately 2.2% of the company’s stock are short sold. Based on an average daily trading volume, of 59,300 shares, the days-to-cover ratio is presently 1.8 days.

NEXGEL Stock Up 2.8 %

NASDAQ NXGL traded up $0.09 during trading on Wednesday, reaching $3.32. 85,518 shares of the company’s stock traded hands, compared to its average volume of 38,767. NEXGEL has a 12-month low of $1.71 and a 12-month high of $3.55. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.51 and a quick ratio of 0.93. The firm has a market cap of $22.54 million, a price-to-earnings ratio of -5.74 and a beta of 0.73. The company’s 50 day simple moving average is $2.89 and its two-hundred day simple moving average is $2.60.

Hedge Funds Weigh In On NEXGEL

A hedge fund recently raised its stake in NEXGEL stock. Northeast Financial Group Inc. grew its position in NEXGEL, Inc. (NASDAQ:NXGL) by 168.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,848 shares of the company’s stock after buying an additional 20,000 shares during the period. Northeast Financial Group Inc. owned 0.50% of NEXGEL worth $82,000 at the end of the most recent quarter. Institutional investors and hedge funds own 2.21% of the company’s stock.

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.