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

NexGel, Inc. (NASDAQ:NXGL)’s stock is scheduled to reverse split before the market opens on 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 Trading Down 15.3%

NexGel stock traded down $0.03 during midday trading on Thursday, reaching $0.15. The stock had a trading volume of 1,312,856 shares, compared to its average volume of 447,119. NexGel has a twelve month low of $0.15 and a twelve month high of $2.89. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.43 and a quick ratio of 0.27. The firm has a market cap of $1.46 million, a price-to-earnings ratio of -0.21 and a beta of 0.82. The firm’s fifty day simple moving average is $0.32 and its two-hundred day simple moving average is $0.48.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NXGL. Weiss Ratings reiterated a “sell (e+)” rating on shares of NexGel in a report on Monday, July 13th. Maxim Group downgraded shares of NexGel from a “buy” rating to a “hold” rating in a research report on Monday, August 24th. Finally, Zacks Research upgraded shares of NexGel to a “hold” rating in a report on Friday, October 2nd. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, NexGel currently has a consensus rating of “Reduce” and a consensus target price of $2.00.

Hedge Funds Weigh In On NexGel

A hedge fund recently bought a new position in NexGel stock. Empery Asset Management LP bought a new stake in shares of NexGel, Inc. (NASDAQ:NXGL) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 90,000 shares of the company’s stock, valued at approximately $3,474,000. Empery Asset Management LP owned approximately 0.98% of NexGel at the end of the most recent reporting period. Hedge funds and other institutional investors 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.