Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Sees Significant Increase in Short Interest

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 9,481 shares, an increase of 78.3% from the December 31st total of 5,318 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily volume of 16,827 shares, the short-interest ratio is presently 0.6 days. Based on an average daily volume of 16,827 shares, the short-interest ratio is presently 0.6 days. Currently, 1.0% of the shares of the stock are sold short.

Insiders Place Their Bets

In related news, major shareholder Opaleye Management Inc. bought 1,151 shares of the firm’s stock in a transaction on Friday, January 23rd. The shares were purchased at an average price of $55.98 per share, with a total value of $64,432.98. Following the completion of the purchase, the insider owned 449,844 shares in the company, valued at $25,182,267.12. This represents a 0.26% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders have purchased a total of 82,232 shares of company stock valued at $3,464,526 in the last quarter. Company insiders own 66.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SLGL shares. HC Wainwright restated a “buy” rating and set a $110.00 price objective (up previously from $50.00) on shares of Sol-Gel Technologies in a research report on Tuesday, January 20th. Zacks Research raised shares of Sol-Gel Technologies to a “hold” rating in a report on Tuesday, October 28th. Wall Street Zen downgraded shares of Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Sol-Gel Technologies in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $110.00.

Sol-Gel Technologies Stock Up 2.1%

Sol-Gel Technologies stock traded up $1.31 during trading hours on Friday, reaching $62.16. 57,266 shares of the company’s stock were exchanged, compared to its average volume of 22,029. The firm has a market capitalization of $173.16 million, a PE ratio of -19.27 and a beta of 1.35. The firm’s 50 day simple moving average is $48.63 and its 200 day simple moving average is $33.89. Sol-Gel Technologies has a twelve month low of $4.02 and a twelve month high of $75.00.

Sol-Gel Technologies (NASDAQ:SLGL) last announced its quarterly earnings data on Thursday, November 20th. The company reported ($2.13) EPS for the quarter, missing the consensus estimate of ($2.09) by ($0.04). Sol-Gel Technologies had a negative return on equity of 33.61% and a negative net margin of 47.37%.The company had revenue of $0.40 million for the quarter, compared to analyst estimates of $0.30 million. Analysts anticipate that Sol-Gel Technologies will post -0.28 EPS for the current year.

Sol-Gel Technologies Company Profile

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.