CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) Sees Significant Increase in Short Interest

CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 3,800 shares, a growth of 533.3% from the June 30th total of 600 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 8,000 shares, the days-to-cover ratio is presently 0.5 days.

CollPlant Biotechnologies Stock Performance

CollPlant Biotechnologies stock traded down $0.14 during mid-day trading on Thursday, reaching $4.65. 6,361 shares of the company were exchanged, compared to its average volume of 8,122. CollPlant Biotechnologies has a twelve month low of $4.22 and a twelve month high of $7.88. The firm’s 50-day simple moving average is $5.27 and its two-hundred day simple moving average is $5.41. The firm has a market cap of $53.24 million, a PE ratio of -7.12 and a beta of 0.23.

CollPlant Biotechnologies (NASDAQ:CLGN) last posted its quarterly earnings data on Wednesday, May 29th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). CollPlant Biotechnologies had a negative return on equity of 24.74% and a negative net margin of 70.58%. The company had revenue of $0.10 million for the quarter, compared to analyst estimates of $0.60 million. As a group, equities research analysts anticipate that CollPlant Biotechnologies will post -1.46 EPS for the current year.

Institutional Trading of CollPlant Biotechnologies

A number of hedge funds have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. lifted its position in CollPlant Biotechnologies by 11.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 50,150 shares of the company’s stock worth $320,000 after acquiring an additional 5,100 shares during the period. Villere ST Denis J & Co. LLC lifted its holdings in shares of CollPlant Biotechnologies by 1.6% in the 1st quarter. Villere ST Denis J & Co. LLC now owns 366,967 shares of the company’s stock valued at $1,963,000 after buying an additional 5,674 shares during the period. Finally, Pinnacle Associates Ltd. lifted its holdings in shares of CollPlant Biotechnologies by 13.3% in the 1st quarter. Pinnacle Associates Ltd. now owns 530,455 shares of the company’s stock valued at $2,838,000 after buying an additional 62,346 shares during the period. 21.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and set a $11.00 price target on shares of CollPlant Biotechnologies in a research note on Thursday, May 30th.

CollPlant Biotechnologies Company Profile

CollPlant Biotechnologies Ltd., a regenerative and aesthetic medicine company, focuses on three-dimensional (3D) bioprinting of tissues and organs, and medical aesthetics in the United States, Canada, Israel, Europe, and internationally. Its products are based on recombinant type I human collagen that is produced with its proprietary plant based genetic engineering technology.