CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) Sees Significant Increase in Short Interest

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

CollPlant Biotechnologies Trading Down 4.1 %

CLGN stock traded down $0.17 during trading on Monday, reaching $4.02. The stock had a trading volume of 7,422 shares, compared to its average volume of 10,200. CollPlant Biotechnologies has a 1-year low of $3.61 and a 1-year high of $6.99. The company has a market capitalization of $46.05 million, a P/E ratio of -2.61 and a beta of 0.44. The firm has a fifty day moving average price of $4.40 and a 200 day moving average price of $4.93.

CollPlant Biotechnologies (NASDAQ:CLGN) last released its 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 company had revenue of $0.25 million during the quarter, compared to the consensus estimate of $0.70 million. CollPlant Biotechnologies had a negative return on equity of 65.98% and a negative net margin of 2,535.70%. Sell-side analysts predict that CollPlant Biotechnologies will post -1.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CLGN shares. EF Hutton Acquisition Co. I upgraded shares of CollPlant Biotechnologies to a “strong-buy” rating in a report on Monday, August 5th. HC Wainwright restated a “buy” rating and set a $11.00 target price on shares of CollPlant Biotechnologies in a report on Wednesday, August 21st.

Institutional Investors Weigh In On CollPlant Biotechnologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pinnacle Associates Ltd. grew its position in shares of 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 buying an additional 33,905 shares during the last quarter. Villere ST Denis J & Co. LLC grew its position in shares of 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 valued at $2,407,000 after buying an additional 95,000 shares during the last quarter. Finally, Benjamin Edwards Inc. bought a new stake in shares of CollPlant Biotechnologies during the 3rd quarter valued at about $112,000. Institutional investors own 21.69% of the company’s stock.

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.