Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Short Interest Up 104.1% in August

Key Points

• Short interest in Sol-Gel Technologies Ltd. has surged by 104.1% to a total of 25,100 shares as of August 31, indicating growing bearish sentiment against the stock.
• The company reported earnings of $4.17 EPS for the quarter, significantly surpassing the consensus estimate of ($0.67), with a revenue of $17.26 million against expectations of $2.86 million.
• Sol-Gel Technologies received a buy rating upgrade from Wall Street Zen, reflecting positive analyst sentiment following its recent earnings report.

Sol-Gel Technologies Ltd. (NASDAQ:SLGL - Get Free Report) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totaling 25,100 shares, an increase of 104.1% from the August 15th total of 12,300 shares. Approximately 3.0% of the company's shares are sold short. Based on an average daily trading volume, of 23,900 shares, the short-interest ratio is presently 1.1 days. Based on an average daily trading volume, of 23,900 shares, the short-interest ratio is presently 1.1 days. Approximately 3.0% of the company's shares are sold short.

Sol-Gel Technologies Stock Up 14.8%

Shares of NASDAQ SLGL traded up $3.93 during trading on Friday, reaching $30.50. 39,178 shares of the stock were exchanged, compared to its average volume of 23,968. The business's 50-day moving average price is $17.41 and its 200 day moving average price is $10.31. Sol-Gel Technologies has a twelve month low of $4.01 and a twelve month high of $30.98. The company has a market capitalization of $85.10 million, a price-to-earnings ratio of -24.80 and a beta of 1.26.

Sol-Gel Technologies (NASDAQ:SLGL - Get Free Report) last issued its quarterly earnings data on Friday, August 15th. The company reported $4.17 EPS for the quarter, topping analysts' consensus estimates of ($0.67) by $4.84. Sol-Gel Technologies had a negative net margin of 14.25% and a negative return on equity of 11.80%. The firm had revenue of $17.26 million for the quarter, compared to analyst estimates of $2.86 million. As a group, sell-side analysts expect that Sol-Gel Technologies will post -0.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Sol-Gel Technologies to a "buy" rating in a report on Saturday, September 13th.

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.