Short Interest in Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Drops By 36.6%

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) was the target of a significant drop in short interest in the month of August. As of August 15th, there was short interest totaling 12,300 shares, a drop of 36.6% from the July 31st total of 19,400 shares. Based on an average daily trading volume, of 22,400 shares, the short-interest ratio is currently 0.5 days. Currently, 1.5% of the company's shares are short sold. Currently, 1.5% of the company's shares are short sold. Based on an average daily trading volume, of 22,400 shares, the short-interest ratio is currently 0.5 days.

Institutional Investors Weigh In On Sol-Gel Technologies

A hedge fund recently bought a new stake in Sol-Gel Technologies stock. Raymond James Financial Inc. purchased a new stake in Sol-Gel Technologies Ltd. (NASDAQ:SLGL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 108,990 shares of the company's stock, valued at approximately $101,000. Raymond James Financial Inc. owned 0.39% of Sol-Gel Technologies as of its most recent SEC filing. Institutional investors own 26.18% of the company's stock.

Sol-Gel Technologies Price Performance

Shares of SLGL stock traded up $0.13 on Thursday, hitting $24.08. The stock had a trading volume of 35,099 shares, compared to its average volume of 23,947. The firm has a market capitalization of $67.18 million, a P/E ratio of -19.58 and a beta of 1.26. Sol-Gel Technologies has a 1 year low of $4.01 and a 1 year high of $30.00. The company's 50 day moving average price is $15.36 and its 200-day moving average price is $9.54.

Sol-Gel Technologies (NASDAQ:SLGL - Get Free Report) last announced its earnings results on Friday, August 15th. The company reported $4.17 EPS for the quarter, beating analysts' consensus estimates of ($0.67) by $4.84. The company had revenue of $17.26 million during the quarter, compared to analysts' expectations of $2.86 million. Sol-Gel Technologies had a negative return on equity of 11.80% and a negative net margin of 14.25%. On average, equities analysts forecast that Sol-Gel Technologies will post -0.28 EPS for the current year.

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.