Short Interest in CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) Expands By 6.2%

CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 15,400 shares, an increase of 6.2% from the October 15th total of 14,500 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average daily volume of 11,100 shares, the days-to-cover ratio is currently 1.4 days.

CollPlant Biotechnologies Stock Down 1.4 %

Shares of CLGN traded down $0.06 during trading hours on Friday, hitting $4.19. The company had a trading volume of 9,030 shares, compared to its average volume of 17,883. CollPlant Biotechnologies has a 52-week low of $3.61 and a 52-week high of $6.99. The firm has a market cap of $47.98 million, a P/E ratio of -2.72 and a beta of 0.44. The stock’s 50 day moving average price is $4.43 and its 200 day moving average price is $4.95.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Benjamin Edwards Inc. purchased a new position in shares of CollPlant Biotechnologies in the 3rd quarter valued at $112,000. Villere ST Denis J & Co. LLC lifted its position in CollPlant Biotechnologies by 24.4% during the 3rd quarter. Villere ST Denis J & Co. LLC now owns 484,867 shares of the company’s stock worth $2,407,000 after acquiring an additional 95,000 shares during the period. Finally, Pinnacle Associates Ltd. grew its stake in CollPlant Biotechnologies by 6.4% during the 2nd quarter. Pinnacle Associates Ltd. now owns 564,360 shares of the company’s stock valued at $2,805,000 after purchasing an additional 33,905 shares during the last quarter. 21.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. HC Wainwright reissued a “buy” rating and issued a $11.00 price objective on shares of CollPlant Biotechnologies in a research note on Wednesday, August 21st. EF Hutton Acquisition Co. I raised shares of CollPlant Biotechnologies to a “strong-buy” rating in a report on Monday, August 5th.

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.