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

Key Points

• Short interest in Sol-Gel Technologies Ltd. decreased by 36.6% in August, falling to 12,300 shares from 19,400 in July.
• Hedge fund Raymond James Financial Inc. acquired a new stake in Sol-Gel Technologies, purchasing 108,990 shares valued at approximately $101,000.
• Sol-Gel Technologies reported an earnings per share (EPS) of $4.17 for the quarter, significantly beating analysts' expectations of ($0.67).

Sol-Gel Technologies Ltd. (NASDAQ:SLGL - Get Free Report) saw a significant decline in short interest in August. As of August 15th, there was short interest totaling 12,300 shares, a decline of 36.6% from the July 31st total of 19,400 shares. Currently, 1.5% of the company's stock are sold short. Based on an average daily trading volume, of 22,400 shares, the short-interest ratio is presently 0.5 days. Based on an average daily trading volume, of 22,400 shares, the short-interest ratio is presently 0.5 days. Currently, 1.5% of the company's stock are sold short.

Sol-Gel Technologies Stock Down 5.9%

Shares of NASDAQ SLGL traded down $1.62 during trading hours on Tuesday, hitting $25.93. 9,185 shares of the stock were exchanged, compared to its average volume of 32,754. The company has a market cap of $72.34 million, a PE ratio of -21.08 and a beta of 1.26. The firm has a fifty day moving average price of $15.03 and a 200-day moving average price of $9.44. Sol-Gel Technologies has a 12 month low of $4.01 and a 12 month high of $30.00.

Sol-Gel Technologies (NASDAQ:SLGL - Get Free Report) last released its quarterly earnings results on Friday, August 15th. The company reported $4.17 earnings per share (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 business had revenue of $17.26 million for the quarter, compared to analyst estimates of $2.86 million. As a group, equities analysts anticipate that Sol-Gel Technologies will post -0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sol-Gel Technologies

An institutional investor recently bought a new position in Sol-Gel Technologies stock. Raymond James Financial Inc. purchased a new position in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 108,990 shares of the company's stock, valued at approximately $101,000. Raymond James Financial Inc. owned about 0.39% of Sol-Gel Technologies as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 26.18% of the company's stock.

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.