CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) Sees Large Growth in Short Interest

CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 9,400 shares, a growth of 11.9% from the August 15th total of 8,400 shares. Based on an average trading volume of 12,800 shares, the short-interest ratio is currently 0.7 days. Currently, 0.1% of the shares of the company are sold short.

CollPlant Biotechnologies Stock Performance

Shares of NASDAQ:CLGN traded down $0.01 on Monday, hitting $5.00. The company’s stock had a trading volume of 2,078 shares, compared to its average volume of 9,516. The company has a market capitalization of $57.27 million, a price-to-earnings ratio of -7.35 and a beta of 0.31. CollPlant Biotechnologies has a 12 month low of $4.10 and a 12 month high of $6.99. The stock’s 50-day moving average is $4.91 and its two-hundred day moving average is $5.24.

CollPlant Biotechnologies (NASDAQ:CLGN) last released its earnings results on Tuesday, August 20th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The company had revenue of $0.25 million for the quarter, compared to analyst estimates of $0.70 million. CollPlant Biotechnologies had a negative net margin of 2,535.70% and a negative return on equity of 65.98%. Equities analysts expect that CollPlant Biotechnologies will post -1.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CollPlant Biotechnologies

A hedge fund recently raised its stake in CollPlant Biotechnologies stock. Pinnacle Associates Ltd. lifted its position in CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) by 6.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 564,360 shares of the company’s stock after buying an additional 33,905 shares during the period. Pinnacle Associates Ltd. owned approximately 4.93% of CollPlant Biotechnologies worth $2,805,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 21.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CLGN. EF Hutton Acquisition Co. I upgraded CollPlant Biotechnologies to a “strong-buy” rating in a research report on Monday, August 5th. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 target price on shares of CollPlant Biotechnologies in a research report on Wednesday, August 21st.

About CollPlant Biotechnologies

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.