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

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

Sol-Gel Technologies Price Performance

SLGL stock traded down $0.01 during midday trading on Friday, hitting $0.62. 55,392 shares of the company’s stock were exchanged, compared to its average volume of 220,124. The business has a 50-day simple moving average of $0.61 and a two-hundred day simple moving average of $0.79. Sol-Gel Technologies has a 1-year low of $0.33 and a 1-year high of $2.46.

Sol-Gel Technologies (NASDAQ:SLGL) last posted its earnings results on Friday, August 16th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.27. The company had revenue of $5.43 million during the quarter, compared to analysts’ expectations of $1.06 million. Sol-Gel Technologies had a negative return on equity of 39.95% and a negative net margin of 227.40%. As a group, research analysts anticipate that Sol-Gel Technologies will post -0.57 earnings per share for the current year.

Analysts Set New Price Targets

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

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.