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

NexGel, Inc. (NASDAQ:NXGL) shares are 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 Trading Down 15.3%

Shares of NXGL stock traded down $0.03 during trading hours 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 company has a quick ratio of 0.27, a current ratio of 0.43 and a debt-to-equity ratio of 0.68. The business has a fifty day moving average price of $0.32 and a 200-day moving average price of $0.48.

NexGel (NASDAQ:NXGL) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $4.32 million. On average, equities analysts predict that NexGel will post -0.94 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on NXGL. Maxim Group lowered shares of NexGel from a “buy” rating to a “hold” rating in a research report on Monday, August 24th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NexGel in a research report on Monday, July 13th. Finally, Zacks Research upgraded shares of NexGel to a “hold” rating in a research note on Friday, October 2nd. Two 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.com, the company has an average rating of “Reduce” and an average target price of $2.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in NexGel stock. Board of Trustees of The Leland Stanford Junior University purchased a new stake in NexGel, Inc. (NASDAQ:NXGL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 32,500 shares of the company’s stock, valued at approximately $52,000. NexGel accounts for about 0.0% of Board of Trustees of The Leland Stanford Junior University’s holdings, making the stock its 19th biggest position. Board of Trustees of The Leland Stanford Junior University owned 0.40% of NexGel as of its most recent SEC filing. Hedge funds and other institutional investors own 2.21% of the company’s stock.

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.