NexGel, Inc. $NXGL Stake Raised by Evernest Financial Advisors LLC

Evernest Financial Advisors LLC grew its position in NexGel, Inc. (NASDAQ:NXGL) by 25.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 281,000 shares of the company’s stock after purchasing an additional 56,334 shares during the period. Evernest Financial Advisors LLC owned about 3.67% of NexGel worth $725,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NXGL. XTX Topco Ltd acquired a new position in shares of NexGel during the 1st quarter valued at about $30,000. Flaharty Asset Management LLC bought a new stake in shares of NexGel in the 1st quarter worth approximately $57,000. IFP Advisors Inc lifted its position in shares of NexGel by 100.0% in the 1st quarter. IFP Advisors Inc now owns 22,000 shares of the company’s stock worth $66,000 after acquiring an additional 11,000 shares during the period. Finally, Essex Investment Management Co. LLC bought a new position in shares of NexGel during the 1st quarter worth approximately $115,000. 2.21% of the stock is owned by institutional investors and hedge funds.

NexGel Stock Performance

Shares of NexGel stock opened at $2.53 on Thursday. The firm has a market cap of $20.42 million, a price-to-earnings ratio of -6.32 and a beta of 0.57. The stock’s 50-day moving average is $2.45 and its 200-day moving average is $2.49. NexGel, Inc. has a one year low of $2.10 and a one year high of $5.10. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.74 and a quick ratio of 0.98.

NexGel (NASDAQ:NXGL) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). NexGel had a negative net margin of 25.02% and a negative return on equity of 49.37%. The firm had revenue of $2.88 million during the quarter, compared to the consensus estimate of $3.08 million.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of NexGel in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

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.