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

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) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 25,100 shares, a growth of 104.1% from the August 15th total of 12,300 shares. Based on an average daily trading volume, of 23,900 shares, the short-interest ratio is currently 1.1 days. Currently, 3.0% of the company's shares are sold short. Currently, 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 currently 1.1 days.

Sol-Gel Technologies Price Performance

NASDAQ:SLGL traded up $0.55 on Friday, hitting $24.63. 13,244 shares of the company's stock were exchanged, compared to its average volume of 32,768. The firm has a 50-day moving average price of $16.04 and a 200-day moving average price of $9.82. Sol-Gel Technologies has a 52 week low of $4.01 and a 52 week high of $30.00. The company has a market cap of $68.70 million, a P/E ratio of -20.02 and a beta of 1.26.

Sol-Gel Technologies (NASDAQ:SLGL - Get Free Report) last issued its quarterly earnings results on Friday, August 15th. The company reported $4.17 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $2.86 million. On average, research analysts expect that Sol-Gel Technologies will post -0.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Sol-Gel Technologies to a "buy" rating in a research report on Saturday.

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.

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