NEXGEL (NASDAQ:NXGL) Stock Price Down 3.1% – Here’s What Happened

Shares of NEXGEL, Inc. (NASDAQ:NXGL) fell 3.1% on Monday . The company traded as low as $2.15 and last traded at $2.18. 14,584 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 68,390 shares. The stock had previously closed at $2.25.

NEXGEL Stock Performance

The company has a market cap of $16.69 million, a price-to-earnings ratio of -3.76 and a beta of 0.65. The company has a current ratio of 1.51, a quick ratio of 0.93 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average price of $2.64 and a two-hundred day moving average price of $3.22.

NEXGEL (NASDAQ:NXGL) last released its earnings results on Tuesday, May 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The firm had revenue of $2.81 million during the quarter, compared to analysts’ expectations of $2.73 million. NEXGEL had a negative return on equity of 71.19% and a negative net margin of 52.60%.

Hedge Funds Weigh In On NEXGEL

Several hedge funds have recently modified their holdings of NXGL. XTX Topco Ltd bought a new position in shares of NEXGEL in the 1st quarter valued at about $30,000. Virtu Financial LLC bought a new position in shares of NEXGEL in the 4th quarter valued at about $48,000. IFP Advisors Inc bought a new position in shares of NEXGEL in the 4th quarter valued at about $49,000. Two Sigma Securities LLC bought a new position in shares of NEXGEL in the 4th quarter valued at about $54,000. Finally, Flaharty Asset Management LLC bought a new position in shares of NEXGEL in the 1st quarter valued at about $57,000. Institutional investors own 2.21% of the company’s stock.

NEXGEL Company 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.