Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Short Interest Update

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 146,700 shares, a decrease of 26.2% from the August 15th total of 198,800 shares. Approximately 1.6% of the shares of the company are short sold. Based on an average daily trading volume, of 380,200 shares, the days-to-cover ratio is presently 0.4 days.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SLGL. Raymond James downgraded Sol-Gel Technologies from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $6.00 to $4.00 in a research report on Monday, August 19th. HC Wainwright lowered their price target on Sol-Gel Technologies from $9.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, May 20th.

Sol-Gel Technologies Stock Performance

SLGL stock traded down $0.01 during mid-day trading on Friday, reaching $0.62. 55,392 shares of the company’s stock were exchanged, compared to its average volume of 220,124. The stock’s 50 day moving average is $0.61 and its 200 day moving average is $0.79. Sol-Gel Technologies has a 12-month low of $0.33 and a 12-month high of $2.46.

Sol-Gel Technologies (NASDAQ:SLGL) last released its earnings results on Friday, August 16th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.27. The business had revenue of $5.43 million for the quarter, compared to the consensus estimate of $1.06 million. Sol-Gel Technologies had a negative return on equity of 39.95% and a negative net margin of 227.40%. Analysts expect that Sol-Gel Technologies will post -0.57 EPS for the current fiscal year.

Sol-Gel Technologies Company Profile

Sol-Gel Technologies Ltd., together with its subsidiary Sol-Gel Technologies Inc, develops topical dermatological drugs for patients with severe skin conditions in Israel. The company offers Twyneo, a once-daily, non-antibiotic topical cream for the treatment of acne vulgaris; and Epsolay, a once-daily topical cream for the treatment of papulopustular (subtype II) rosacea.