Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Short Interest Down 23.4% in February

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) saw a large drop in short interest in the month of February. As of February 13th, there was short interest totaling 5,775 shares, a drop of 23.4% from the January 29th total of 7,538 shares. Based on an average trading volume of 27,291 shares, the short-interest ratio is currently 0.2 days. Approximately 0.6% of the company’s stock are sold short. Approximately 0.6% of the company’s stock are sold short. Based on an average trading volume of 27,291 shares, the short-interest ratio is currently 0.2 days.

Sol-Gel Technologies Stock Performance

Shares of NASDAQ:SLGL opened at $94.50 on Wednesday. The firm has a market cap of $263.66 million, a price-to-earnings ratio of -29.51 and a beta of 1.30. The business has a 50-day simple moving average of $64.71 and a two-hundred day simple moving average of $44.55. Sol-Gel Technologies has a fifty-two week low of $4.02 and a fifty-two week high of $97.97.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. HC Wainwright reissued 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Sol-Gel Technologies in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $110.00.

Insider Buying and Selling

In other Sol-Gel Technologies news, major shareholder Opaleye Management Inc. acquired 1,151 shares of the business’s stock in a transaction on Friday, January 23rd. The shares were acquired at an average price of $55.98 per share, for a total transaction of $64,432.98. Following the completion of the acquisition, the insider owned 449,844 shares in the company, valued at $25,182,267.12. This trade represents a 0.26% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought a total of 75,368 shares of company stock worth $3,206,907 over the last 90 days. 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. purchased a new position in Sol-Gel Technologies Ltd. (NASDAQ:SLGL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 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 reporting period. Institutional investors and hedge funds own 26.18% of the company’s stock.

About Sol-Gel Technologies

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.