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PhotoMedex (NASDAQ:PHMD) was the recipient of a large decrease in short interest in the month of August. As of August 15th, there was short interest totalling 1,925,206 shares, a decrease of 45.3% from the July 31st total of 3,517,575 shares, AnalystRatings.Net reports. Approximately 16.9% of the company’s stock are sold short. Based on an average daily trading volume, of 311,038 shares, the days-to-cover ratio is presently 6.2 days.

A number of research firms have recently commented on PHMD. Analysts at Maxim Group reiterated a “hold” rating on shares of PhotoMedex in a research note on Friday, August 8th. Analysts at Canaccord Genuity downgraded shares of PhotoMedex from a “buy” rating to a “hold” rating in a research note on Friday, August 8th. They now have a $8.00 price target on the stock, down previously from $15.00. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. PhotoMedex has a consensus rating of “Hold” and a consensus target price of $13.00.

PhotoMedex (NASDAQ:PHMD) opened at 8.22 on Wednesday. PhotoMedex has a 52 week low of $8.14 and a 52 week high of $16.82. The stock has a 50-day moving average of $9.87 and a 200-day moving average of $12.84. The company’s market cap is $153.9 million.

PhotoMedex (NASDAQ:PHMD) last announced its earnings results on Thursday, August 7th. The company reported $0.01 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.09 by $0.08. The company had revenue of $52.10 million for the quarter, compared to the consensus estimate of $62.10 million. During the same quarter last year, the company posted $0.63 earnings per share. PhotoMedex’s revenue was down 10.3% compared to the same quarter last year. On average, analysts predict that PhotoMedex will post $-0.79 earnings per share for the current fiscal year.

PhotoMedex, Inc (NASDAQ:PHMD) is a Global Skin Health Solutions company that provides integrated disease management and aesthetic solutions to dermatologists, professional aestheticians and consumers.

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