NexGel (NASDAQ:NXGL) Shares Set to Reverse Split on Monday, October 12th

Shares of NexGel, Inc. (NASDAQ:NXGL) are scheduled to reverse split on the morning of Monday, October 12th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, October 11th.

NexGel Price Performance

Shares of NXGL stock traded down $0.03 on Thursday, reaching $0.15. 1,312,856 shares of the company were exchanged, compared to its average volume of 501,067. The company has a market cap of $1.46 million, a price-to-earnings ratio of -0.21 and a beta of 0.82. The business has a 50-day moving average price of $0.31 and a 200 day moving average price of $0.48. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.27 and a current ratio of 0.43. NexGel has a 1 year low of $0.15 and a 1 year high of $2.89.

NexGel (NASDAQ:NXGL) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.28). The company had revenue of $3.69 million for the quarter, compared to analyst estimates of $4.32 million. NexGel had a negative return on equity of 121.18% and a negative net margin of 51.26%. Equities research analysts forecast that NexGel will post -0.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Zacks Research raised NexGel to a “hold” rating in a research note on Friday, October 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of NexGel in a research note on Monday, July 13th. Finally, Maxim Group lowered NexGel from a “buy” rating to a “hold” rating in a report on Monday, August 24th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, NexGel has an average rating of “Reduce” and an average price target of $2.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in NexGel stock. Empery Asset Management LP purchased a new stake in NexGel, Inc. (NASDAQ:NXGL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 90,000 shares of the company’s stock, valued at approximately $3,474,000. Empery Asset Management LP owned about 0.98% of NexGel as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 2.21% of the company’s stock.

NexGel Company Profile

NexGel, Inc develops and manufactures high-water-content, electron-beam-crosslinked aqueous polymer hydrogels. Its products are designed to provide electrical conductivity, moisture retention, cushioning, and cooling for a range of medical, consumer, and industrial applications.

The company’s hydrogel products are used in medical electrodes for applications such as electrocardiography, neuromuscular stimulation, and defibrillation, as well as in ultrasound procedures. NexGel also supplies nonconductive hydrogels for wound care, burn care, scar treatment, and cosmetic products, along with specialized formulations for veterinary and other commercial uses.

Based in Langhorne, Pennsylvania, NexGel serves customers through business-to-business relationships with medical-device manufacturers and other product companies.