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

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) was the target of a large drop in short interest in November. As of November 15th, there was short interest totalling 21,400 shares, a drop of 42.5% from the October 31st total of 37,200 shares. Based on an average daily volume of 77,100 shares, the short-interest ratio is currently 0.3 days. Approximately 0.3% of the shares of the stock are short sold.

Sol-Gel Technologies Price Performance

SLGL stock traded down $0.01 during midday trading on Friday, hitting $0.56. The stock had a trading volume of 43,222 shares, compared to its average volume of 138,136. The company’s 50-day moving average price is $0.61 and its 200 day moving average price is $0.67. The firm has a market cap of $15.63 million, a PE ratio of -1.65 and a beta of 1.60. Sol-Gel Technologies has a 12-month low of $0.33 and a 12-month high of $1.58.

Analyst Upgrades and Downgrades

Separately, Raymond James lowered shares of Sol-Gel Technologies from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $6.00 to $4.00 in a report on Monday, August 19th.

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.