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

NexGel, Inc. (NASDAQ:NXGL)’s stock is set 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 Stock Down 15.3%

NASDAQ NXGL traded down $0.03 during trading on Thursday, reaching $0.15. 1,312,856 shares of the company’s stock were exchanged, compared to its average volume of 501,067. NexGel has a fifty-two week low of $0.15 and a fifty-two week high of $2.89. The firm has a market capitalization of $1.46 million, a PE ratio of -0.21 and a beta of 0.82. The company has a current ratio of 0.43, a quick ratio of 0.27 and a debt-to-equity ratio of 0.68. The company’s fifty day simple moving average is $0.31 and its 200-day simple moving average is $0.48.

NexGel (NASDAQ:NXGL) last released its 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 business had revenue of $3.69 million for the quarter, compared to analysts’ expectations of $4.32 million. NexGel had a negative net margin of 51.26% and a negative return on equity of 121.18%. Sell-side analysts predict that NexGel will post -0.94 EPS for the current year.

Analyst Upgrades and Downgrades

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

Institutional Trading of NexGel

An institutional investor recently bought a new position in NexGel stock. Empery Asset Management LP purchased a new position in shares of NexGel, Inc. (NASDAQ:NXGL) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 90,000 shares of the company’s stock, valued at approximately $3,474,000. Empery Asset Management LP owned approximately 0.98% of NexGel as of its most recent filing with the SEC. 2.21% of the stock is currently owned by hedge funds and other institutional investors.

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.