Flaharty Asset Management LLC Invests $57,000 in NexGel, Inc. $NXGL

Flaharty Asset Management LLC purchased a new stake in NexGel, Inc. (NASDAQ:NXGL) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 19,000 shares of the company’s stock, valued at approximately $57,000. Flaharty Asset Management LLC owned 0.25% of NexGel at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Evernest Financial Advisors LLC acquired a new stake in shares of NexGel during the first quarter worth $670,000. Essex Investment Management Co. LLC bought a new position in NexGel during the first quarter worth about $115,000. IFP Advisors Inc raised its stake in 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 purchasing an additional 11,000 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in NexGel in the 1st quarter worth about $30,000. 2.21% of the stock is owned by institutional investors and hedge funds.

NexGel Stock Performance

Shares of NASDAQ:NXGL opened at $2.29 on Thursday. The company’s 50 day moving average price is $2.45 and its two-hundred day moving average price is $2.56. NexGel, Inc. has a 12-month low of $2.10 and a 12-month high of $5.10. The firm has a market cap of $18.48 million, a PE ratio of -5.72 and a beta of 0.58. The company has a quick ratio of 0.98, a current ratio of 1.74 and a debt-to-equity ratio of 0.16.

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

NexGel 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.