CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) Short Interest Update

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

Analysts Set New Price Targets

CLGN has been the subject of several research analyst reports. EF Hutton Acquisition Co. I raised shares of 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.

Hedge Funds Weigh In On CollPlant Biotechnologies

A hedge fund recently raised its stake in CollPlant Biotechnologies stock. Pinnacle Associates Ltd. raised its position in shares of CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) by 6.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 564,360 shares of the company’s stock after buying an additional 33,905 shares during the quarter. Pinnacle Associates Ltd. owned about 4.93% of CollPlant Biotechnologies worth $2,805,000 at the end of the most recent quarter. 21.69% of the stock is owned by institutional investors and hedge funds.

CollPlant Biotechnologies Stock Performance

Shares of NASDAQ:CLGN opened at $4.85 on Wednesday. The stock has a 50-day simple moving average of $4.90 and a 200-day simple moving average of $5.23. The stock has a market capitalization of $55.58 million, a P/E ratio of -7.14 and a beta of 0.31. CollPlant Biotechnologies has a 1 year low of $4.10 and a 1 year high of $6.99.

CollPlant Biotechnologies (NASDAQ:CLGN) last issued its quarterly earnings data on Tuesday, August 20th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 65.98% and a negative net margin of 2,535.70%. Analysts predict that CollPlant Biotechnologies will post -1.44 earnings per share for the current year.

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.