NexGel (NASDAQ:NXGL) Shares Up 5.4% – Should You Buy?

NexGel, Inc. (NASDAQ:NXGL)’s stock price traded up 5.4% during mid-day trading on Tuesday . The stock traded as high as $2.34 and last traded at $2.34. 68,974 shares traded hands during trading, an increase of 42% from the average session volume of 48,541 shares. The stock had previously closed at $2.22.

NexGel Trading Up 5.4%

The stock has a market capitalization of $18.88 million, a price-to-earnings ratio of -5.85 and a beta of 0.58. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.98 and a current ratio of 1.74. The business has a 50-day moving average of $2.45 and a 200-day moving average of $2.56.

NexGel (NASDAQ:NXGL) last announced its earnings results on Tuesday, August 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The firm 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%.

Institutional Trading of NexGel

A number of large investors have recently made changes to their positions in the company. Malaga Cove Capital LLC acquired a new stake in shares of NexGel in the 2nd quarter valued at about $27,000. Evernest Financial Advisors LLC increased its stake in NexGel by 25.1% in the second quarter. Evernest Financial Advisors LLC now owns 281,000 shares of the company’s stock valued at $725,000 after purchasing an additional 56,334 shares during the period. Flaharty Asset Management LLC acquired a new position in NexGel in the first quarter valued at $57,000. XTX Topco Ltd acquired a new position in NexGel in the first quarter valued at $30,000. Finally, Essex Investment Management Co. LLC acquired a new position in NexGel in the first quarter valued at $115,000. 2.21% of the stock is owned by institutional investors and hedge funds.

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.