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

Posted by Tyrone Williams on Jul 25th, 2024

Sol-Gel Technologies Ltd. (NASDAQ:SLGL – Get Free Report) was the target of a significant drop in short interest during the month of July. As of July 15th, there was short interest totalling 9,000 shares, a drop of 64.8% from the June 30th total of 25,600 shares. Based on an average daily volume of 35,100 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the shares of the stock are sold short.

Sol-Gel Technologies Stock Down 32.9 %

SLGL traded down $0.22 on Thursday, reaching $0.45. 14,943,691 shares of the company traded hands, compared to its average volume of 136,815. Sol-Gel Technologies has a one year low of $0.42 and a one year high of $3.92. The firm has a fifty day simple moving average of $0.82 and a two-hundred day simple moving average of $0.96. The company has a market cap of $12.53 million, a P/E ratio of -0.54 and a beta of 1.54.

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

Analyst Upgrades and Downgrades

Separately, HC Wainwright lowered their target price on shares of Sol-Gel Technologies from $9.00 to $6.00 and set a “buy” rating for the company in a report on Monday, May 20th.

View Our Latest Report on Sol-Gel Technologies

About Sol-Gel Technologies

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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.