Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Sees Large Decrease in Short Interest

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) saw a large decline in short interest in October. As of October 31st, there was short interest totalling 37,200 shares, a decline of 82.9% from the October 15th total of 217,700 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily volume of 121,400 shares, the short-interest ratio is presently 0.3 days.

Sol-Gel Technologies Stock Performance

Shares of NASDAQ:SLGL traded down $0.00 during midday trading on Wednesday, hitting $0.56. 14,555 shares of the stock were exchanged, compared to its average volume of 140,931. The business’s 50-day moving average price is $0.64 and its 200 day moving average price is $0.69. Sol-Gel Technologies has a 12 month low of $0.33 and a 12 month high of $1.58.

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

Analysts Set New Price Targets

Separately, Raymond James cut Sol-Gel Technologies from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $6.00 to $4.00 in a research note on Monday, August 19th.

About Sol-Gel Technologies

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.