Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Sees Significant Increase in Short Interest

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 438,700 shares, an increase of 4,774.4% from the July 15th total of 9,000 shares. Based on an average daily volume of 316,500 shares, the days-to-cover ratio is presently 1.4 days. Approximately 4.7% of the company’s stock are short sold.

Sol-Gel Technologies Price Performance

Shares of Sol-Gel Technologies stock traded down $0.01 during trading hours on Monday, hitting $0.36. 124,073 shares of the company’s stock traded hands, compared to its average volume of 150,697. The stock has a market capitalization of $10.06 million, a price-to-earnings ratio of -0.44 and a beta of 1.54. Sol-Gel Technologies has a 12-month low of $0.33 and a 12-month high of $3.24. The company has a fifty day simple moving average of $0.74 and a 200-day simple moving average of $0.90.

Sol-Gel Technologies (NASDAQ:SLGL) last posted its quarterly earnings data on Monday, May 20th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.08). The company had revenue of $0.47 million for the quarter, compared to analysts’ expectations of $1.30 million. Sol-Gel Technologies had a negative return on equity of 56.20% and a negative net margin of 1,329.13%. On average, analysts forecast that Sol-Gel Technologies will post -0.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, 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 report on Monday, May 20th.

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.