CollPlant Biotechnologies (NASDAQ:CLGN) Rating Increased to Strong-Buy at EF Hutton Acquisition Co. I

EF Hutton Acquisition Co. I upgraded shares of CollPlant Biotechnologies (NASDAQ:CLGN) to a strong-buy rating in a research report released on Monday morning, Zacks.com reports.

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

CollPlant Biotechnologies Stock Down 6.7 %

Shares of CollPlant Biotechnologies stock opened at $4.31 on Monday. CollPlant Biotechnologies has a 12-month low of $4.15 and a 12-month high of $7.88. The stock has a market cap of $49.36 million, a P/E ratio of -6.34 and a beta of 0.24. The business’s 50 day moving average is $4.97 and its 200-day moving average is $5.32.

CollPlant Biotechnologies (NASDAQ:CLGN) last announced its quarterly earnings data on Wednesday, May 29th. The company reported ($0.37) earnings per share (EPS) 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 the consensus estimate of $0.60 million. On average, sell-side analysts expect that CollPlant Biotechnologies will post -1.46 EPS for the current year.

Institutional Investors Weigh In On CollPlant Biotechnologies

A number of large investors have recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. raised its stake in CollPlant Biotechnologies by 6.4% in the 2nd quarter. Pinnacle Associates Ltd. now owns 564,360 shares of the company’s stock valued at $2,805,000 after acquiring an additional 33,905 shares during the period. Villere ST Denis J & Co. LLC raised its stake in 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 acquiring an additional 5,674 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its stake in CollPlant Biotechnologies by 11.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 50,150 shares of the company’s stock valued at $320,000 after acquiring an additional 5,100 shares during the period. Institutional investors 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.