Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Short Interest Down 26.2% in August

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) saw a large decrease in short interest in 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 company’s shares are sold short. Based on an average daily volume of 380,200 shares, the short-interest ratio is presently 0.4 days.

Analyst Ratings Changes

Several brokerages have recently commented on SLGL. HC Wainwright reduced their target price on Sol-Gel Technologies from $9.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Raymond James cut Sol-Gel Technologies from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $6.00 to $4.00 in a research note on Monday, August 19th.

Sol-Gel Technologies Stock Performance

Shares of Sol-Gel Technologies stock traded down $0.01 during trading hours on Monday, reaching $0.61. The company’s stock had a trading volume of 161,317 shares, compared to its average volume of 158,953. The company has a market capitalization of $16.94 million, a P/E ratio of -0.75 and a beta of 1.57. The stock’s fifty day simple moving average is $0.61 and its two-hundred day simple moving average is $0.79. Sol-Gel Technologies has a one year low of $0.33 and a one year high of $2.37.

Sol-Gel Technologies (NASDAQ:SLGL) last announced its quarterly 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 analysts’ expectations of $1.06 million. Sol-Gel Technologies had a negative net margin of 227.40% and a negative return on equity of 39.95%. As a group, research analysts forecast that Sol-Gel Technologies will post -0.57 earnings per share for the current 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.