Short Interest in Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Expands By 55.5%

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) saw a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 8,979 shares, an increase of 55.5% from the February 12th total of 5,775 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily volume of 23,930 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily volume of 23,930 shares, the days-to-cover ratio is currently 0.4 days. Currently, 1.0% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Sol-Gel Technologies in a research report on Monday, December 29th. HC Wainwright reiterated a “buy” rating and issued a $110.00 target price (up from $50.00) on shares of Sol-Gel Technologies in a report on Tuesday, January 20th. One equities 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, Sol-Gel Technologies presently has an average rating of “Hold” and an average price target of $110.00.

Sol-Gel Technologies Stock Down 2.7%

Shares of Sol-Gel Technologies stock traded down $2.27 on Friday, hitting $83.04. 36,536 shares of the company traded hands, compared to its average volume of 26,020. The company has a 50-day moving average price of $70.77 and a 200 day moving average price of $47.40. Sol-Gel Technologies has a 12-month low of $4.02 and a 12-month high of $97.97. The company has a market cap of $231.68 million, a PE ratio of -25.47 and a beta of 1.30.

Insider Activity

In other Sol-Gel Technologies news, major shareholder Opaleye Management Inc. bought 1,151 shares of the firm’s stock in a transaction dated Friday, January 23rd. The stock was acquired at an average price of $55.98 per share, with a total value of $64,432.98. Following the completion of the transaction, the insider directly owned 449,844 shares in the company, valued at approximately $25,182,267.12. This represents a 0.26% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired a total of 75,368 shares of company stock valued at $3,206,907 in the last ninety days. 66.51% of the stock is owned by corporate insiders.

Institutional Trading of Sol-Gel Technologies

A hedge fund recently bought a new stake in Sol-Gel Technologies stock. Yelin Lapidot Holdings Management Ltd. acquired a new position in Sol-Gel Technologies Ltd. (NASDAQ:SLGL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 17,753 shares of the company’s stock, valued at approximately $748,000. Yelin Lapidot Holdings Management Ltd. owned 0.64% of Sol-Gel Technologies as of its most recent filing with the Securities and Exchange Commission (SEC). 26.18% of the stock is owned by institutional investors.

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.