Short Interest in Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Drops By 20.5%

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) was the recipient of a large decrease in short interest in January. As of January 30th, there was short interest totaling 7,538 shares, a decrease of 20.5% from the January 15th total of 9,481 shares. Currently, 0.8% of the company’s shares are sold short. Based on an average daily trading volume, of 27,628 shares, the short-interest ratio is presently 0.3 days. Based on an average daily trading volume, of 27,628 shares, the short-interest ratio is presently 0.3 days. Currently, 0.8% of the company’s shares are sold short.

Sol-Gel Technologies Price Performance

Shares of NASDAQ:SLGL traded down $8.92 during midday trading on Friday, hitting $67.20. 25,850 shares of the company’s stock were exchanged, compared to its average volume of 26,272. Sol-Gel Technologies has a 12 month low of $4.02 and a 12 month high of $76.80. The company has a market cap of $187.49 million, a PE ratio of -20.61 and a beta of 1.36. The stock has a 50 day moving average price of $54.43 and a 200-day moving average price of $38.44.

Sol-Gel Technologies (NASDAQ:SLGL) last announced its quarterly earnings results on Thursday, November 20th. The company reported ($2.13) earnings per share for the quarter, missing the consensus estimate of ($2.09) by ($0.04). The business had revenue of $0.40 million during the quarter, compared to the consensus estimate of $0.30 million. Sol-Gel Technologies had a negative net margin of 47.37% and a negative return on equity of 33.61%. On average, analysts anticipate that Sol-Gel Technologies will post -0.28 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Sol-Gel Technologies in a report on Monday, December 29th. HC Wainwright reaffirmed a “buy” rating and issued a $110.00 target price (up from $50.00) on shares of Sol-Gel Technologies in a research report on Tuesday, January 20th. Wall Street Zen downgraded Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Zacks Research raised Sol-Gel Technologies to a “hold” rating in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Sol-Gel Technologies currently has a consensus rating of “Hold” and an average price target of $110.00.

Insider Activity at Sol-Gel Technologies

In related news, major shareholder Opaleye Management Inc. bought 1,151 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The shares were bought at an average price of $55.98 per share, for a total transaction of $64,432.98. Following the transaction, the insider directly owned 449,844 shares of the company’s stock, valued at approximately $25,182,267.12. The trade was a 0.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have purchased 82,232 shares of company stock worth $3,464,526. Company insiders own 66.51% of the company’s stock.

Institutional Investors Weigh In On Sol-Gel Technologies

A hedge fund recently bought a new stake in Sol-Gel Technologies stock. Yelin Lapidot Holdings Management Ltd. purchased a new stake in Sol-Gel Technologies Ltd. (NASDAQ:SLGL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,753 shares of the company’s stock, valued at approximately $748,000. Yelin Lapidot Holdings Management Ltd. owned about 0.64% of Sol-Gel Technologies at the end of the most recent quarter. Institutional investors and hedge funds own 26.18% of the company’s stock.

Sol-Gel Technologies Company Profile

Sol-Gel Technologies, Inc (NASDAQ: SLGL) is a U.S.-based advanced materials company specializing in the development and commercialization of nanostructured materials using proprietary sol-gel processes. Leveraging expertise in materials chemistry and thin-film deposition, the company focuses on the production of metal oxide powders, sols, coatings and functional inks designed to enhance performance in a variety of industrial and commercial applications.

The company’s product portfolio includes corrosion- and abrasion-resistant coatings, dielectric and conductive films, catalyst supports and specialty fillers.