Short Interest in CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) Increases By 5.3%

CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 9,900 shares, a growth of 5.3% from the August 31st total of 9,400 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 12,200 shares, the days-to-cover ratio is currently 0.8 days.

CollPlant Biotechnologies Price Performance

CLGN stock traded up $0.03 during mid-day trading on Tuesday, reaching $5.00. 874 shares of the company’s stock were exchanged, compared to its average volume of 9,247. 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 $4.85 and its 200 day moving average is $5.21. The company has a market cap of $57.27 million, a price-to-earnings ratio of -6.91 and a beta of 0.31.

CollPlant Biotechnologies (NASDAQ:CLGN) last announced its earnings results on Tuesday, August 20th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The business had revenue of $0.25 million for the quarter, compared to analysts’ expectations 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 forecast that CollPlant Biotechnologies will post -1.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $11.00 price target on shares of CollPlant Biotechnologies in a report on Wednesday, August 21st. EF Hutton Acquisition Co. I upgraded shares of CollPlant Biotechnologies to a “strong-buy” rating in a research report on Monday, August 5th.

Hedge Funds Weigh In On CollPlant Biotechnologies

An institutional investor recently raised its position in CollPlant Biotechnologies stock. Pinnacle Associates Ltd. boosted its stake in CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) by 13.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 530,455 shares of the company’s stock after buying an additional 62,346 shares during the quarter. Pinnacle Associates Ltd. owned approximately 4.63% of CollPlant Biotechnologies worth $2,838,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 21.69% of the company’s stock.

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.