NexGel (NASDAQ:NXGL) Shares Up 0.4% – What’s Next?

NexGel, Inc. (NASDAQ:NXGL)’s stock price shot up 0.4% during trading on Thursday . The stock traded as high as $2.51 and last traded at $2.43. 23,998 shares changed hands during trading, a decline of 43% from the average session volume of 42,439 shares. The stock had previously closed at $2.42.

NexGel Trading Up 0.4%

The company has a 50 day simple moving average of $2.42 and a 200 day simple moving average of $2.51. 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 company has a market capitalization of $19.61 million, a PE ratio of -6.07 and a beta of 0.57.

NexGel (NASDAQ:NXGL) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The firm had revenue of $2.88 million for the quarter, compared to analysts’ expectations of $3.08 million. NexGel had a negative return on equity of 49.37% and a negative net margin of 25.02%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Evernest Financial Advisors LLC boosted its holdings in shares of NexGel by 25.1% during the 2nd quarter. Evernest Financial Advisors LLC now owns 281,000 shares of the company’s stock worth $725,000 after purchasing an additional 56,334 shares during the last quarter. Essex Investment Management Co. LLC acquired a new position in shares of NexGel during the 1st quarter worth approximately $115,000. IFP Advisors Inc boosted its holdings in shares of NexGel by 100.0% during the 1st quarter. IFP Advisors Inc now owns 22,000 shares of the company’s stock worth $66,000 after purchasing an additional 11,000 shares during the last quarter. Flaharty Asset Management LLC acquired a new position in shares of NexGel during the 1st quarter worth approximately $57,000. Finally, Malaga Cove Capital LLC acquired a new position in shares of NexGel during the 2nd quarter worth approximately $27,000. 2.21% of the stock is currently 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.