Short Interest in Check-Cap Ltd. (NASDAQ:CHEK) Drops By 11.4%

Check-Cap Ltd. (NASDAQ:CHEK) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 65,600 shares, a decrease of 11.4% from the August 15th total of 74,000 shares. Based on an average daily volume of 10,700 shares, the short-interest ratio is presently 6.1 days. Currently, 1.5% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Check-Cap in a report on Saturday. They issued a “sell” rating for the company.

Check-Cap Trading Down 3.8 %

Shares of CHEK stock traded down $0.07 during trading on Tuesday, reaching $1.75. 67,421 shares of the company’s stock traded hands, compared to its average volume of 99,128. The firm’s 50-day moving average is $1.93 and its 200 day moving average is $2.11. The company has a market capitalization of $10.24 million, a P/E ratio of -0.58 and a beta of 0.39. Check-Cap has a 1 year low of $1.71 and a 1 year high of $4.63.

Check-Cap Company Profile

Check-Cap Ltd., a clinical stage medical diagnostics company, engages in the development of a capsule-based screening technology that utilizes ultra-low-dose X-rays to scan the inner lining of the colon for precancerous polyps, and other structural abnormalities in Israel. Its C-Scan system consists of C-Scan Cap, an X-ray scanning capsule for detection of suspected polyps; C-Scan Track, a disposable system attached to the patient's back through biocompatible adhesive skin patches; and C-Scan View software, a client/server-based application that enables procedure data download from the C-Scan Track, data analysis, and report generation.