Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Short Interest Update

by · The Cerbat Gem

Sol-Gel Technologies Ltd. (NASDAQ:SLGLGet Free Report) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totaling 12,551 shares, a decrease of 31.7% from the March 15th total of 18,373 shares. Approximately 1.3% of the shares of the stock are short sold. Based on an average daily volume of 42,875 shares, the short-interest ratio is currently 0.3 days.

Sol-Gel Technologies Price Performance

Shares of NASDAQ:SLGL traded down $4.48 on Thursday, hitting $75.32. The company’s stock had a trading volume of 42,925 shares, compared to its average volume of 37,123. The company has a 50-day simple moving average of $78.55 and a 200 day simple moving average of $56.18. Sol-Gel Technologies has a 1 year low of $4.11 and a 1 year high of $97.97. The company has a market capitalization of $211.65 million, a PE ratio of -33.78 and a beta of 1.26.

Sol-Gel Technologies (NASDAQ:SLGLGet Free Report) last released its quarterly earnings results on Thursday, March 19th. The company reported ($1.07) earnings per share for the quarter, missing the consensus estimate of $0.39 by ($1.46). The business had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $6.50 million. Sol-Gel Technologies had a negative net margin of 31.60% and a negative return on equity of 24.29%. On average, equities research analysts expect that Sol-Gel Technologies will post -0.28 earnings per share for the current fiscal year.

Insider Transactions at Sol-Gel Technologies

In related news, major shareholder Opaleye Management Inc. acquired 1,151 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The shares were acquired at an average price of $55.98 per share, with a total value of $64,432.98. Following the acquisition, the insider owned 449,844 shares of the company’s stock, valued at approximately $25,182,267.12. This trade represents a 0.26% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders bought 3,424 shares of company stock worth $193,065. Corporate insiders own 66.51% of the company’s stock.

Hedge Funds Weigh In On Sol-Gel Technologies

An institutional investor recently bought a new position in Sol-Gel Technologies stock. Yelin Lapidot Holdings Management Ltd. acquired a new stake in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGLFree Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 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. Hedge funds and other institutional investors own 26.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wall Street Zen raised Sol-Gel Technologies from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. HC Wainwright reaffirmed a “buy” rating and issued a $110.00 price target (up from $50.00) on shares of Sol-Gel Technologies in a report on Tuesday, January 20th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sol-Gel Technologies in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Sol-Gel Technologies presently has an average rating of “Hold” and a consensus target price of $110.00.

Read Our Latest Report on SLGL

Sol-Gel Technologies Company Profile

(Get Free Report)

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.

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