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

NEXGEL, Inc. (NASDAQ:NXGL) was the target of a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 17,700 shares, a decrease of 26.6% from the March 31st total of 24,100 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily volume of 21,600 shares, the short-interest ratio is currently 0.8 days.

NEXGEL Trading Down 3.3 %

Shares of NASDAQ NXGL traded down $0.08 during mid-day trading on Friday, reaching $2.21. The company had a trading volume of 7,486 shares, compared to its average volume of 16,956. The stock has a market cap of $13.77 million, a price-to-earnings ratio of -3.95 and a beta of 0.68. The company has a current ratio of 1.98, a quick ratio of 1.46 and a debt-to-equity ratio of 0.10. NEXGEL has a 52 week low of $1.40 and a 52 week high of $3.14. The business’s 50-day moving average is $2.44 and its 200-day moving average is $2.20.

NEXGEL (NASDAQ:NXGL) last issued its earnings results on Monday, April 1st. The company reported ($0.19) earnings per share for the quarter. NEXGEL had a negative net margin of 77.19% and a negative return on equity of 49.49%. The firm had revenue of $1.08 million for the quarter.

Insider Buying and Selling at NEXGEL

In other news, Director Scott Robert Henry acquired 23,697 shares of NEXGEL stock in a transaction on Friday, March 1st. The shares were acquired at an average price of $2.11 per share, with a total value of $50,000.67. Following the purchase, the director now directly owns 135,735 shares in the company, valued at approximately $286,400.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Adam E. Drapczuk III bought 47,394 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were purchased at an average price of $2.11 per share, with a total value of $100,001.34. Following the transaction, the chief financial officer now owns 47,394 shares in the company, valued at approximately $100,001.34. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Scott Robert Henry acquired 23,697 shares of the company’s stock in a transaction on Friday, March 1st. The shares were purchased at an average cost of $2.11 per share, with a total value of $50,000.67. Following the completion of the purchase, the director now directly owns 135,735 shares of the company’s stock, valued at $286,400.85. The disclosure for this purchase can be found here. Insiders own 27.15% of the company’s stock.

Hedge Funds 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) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,848 shares of the company’s stock, valued at approximately $32,000. Northeast Financial Group Inc. owned about 0.19% of NEXGEL at the end of the most recent quarter. 2.21% of the stock is owned by institutional investors and hedge funds.

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.