NexGel (NASDAQ:NXGL) Shares Scheduled to Reverse Split on Monday, October 12th
by Michael Walen · The Markets DailyNexGel, Inc. (NASDAQ:NXGL – Free Report)’s stock is going 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 Stock Performance
NXGL stock traded down $0.03 on Thursday, reaching $0.15. The company’s stock had a trading volume of 1,312,856 shares, compared to its average volume of 447,119. NexGel has a 52 week low of $0.15 and a 52 week 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 company has a market capitalization of $1.46 million, a P/E ratio of -0.21 and a beta of 0.82. The firm has a fifty day moving average of $0.32 and a two-hundred day moving average of $0.48.
NexGel (NASDAQ:NXGL – Get Free Report) last announced 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). NexGel had a negative net margin of 51.26% and a negative return on equity of 121.18%. The business had revenue of $3.69 million for the quarter, compared to the consensus estimate of $4.32 million. As a group, analysts predict that NexGel will post -0.94 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. Maxim Group cut NexGel from a “buy” rating to a “hold” rating in a report on Monday, August 24th. Weiss Ratings restated a “sell (e+)” rating on shares of NexGel in a report on Monday, July 13th. Finally, Zacks Research raised NexGel to a “hold” rating in a report on Friday, October 2nd. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $2.00.
View Our Latest Analysis on NXGL
Hedge Funds Weigh In On NexGel
A hedge fund recently bought a new stake in NexGel stock. Empery Asset Management LP acquired a new position in shares of NexGel, Inc. (NASDAQ:NXGL – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 90,000 shares of the company’s stock, valued at approximately $3,474,000. Empery Asset Management LP owned 0.98% of NexGel at the end of the most recent quarter. 2.21% of the stock is currently owned by hedge funds and other institutional investors.
About NexGel
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.