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

CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 9,900 shares, an increase of 5.3% from the August 31st total of 9,400 shares. Based on an average daily volume of 12,200 shares, the short-interest ratio is currently 0.8 days. Currently, 0.1% of the company’s stock are short sold.

Hedge Funds Weigh In On CollPlant Biotechnologies

A hedge fund recently raised its stake in CollPlant Biotechnologies stock. Pinnacle Associates Ltd. lifted its holdings in CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) by 6.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 564,360 shares of the company’s stock after acquiring an additional 33,905 shares during the quarter. Pinnacle Associates Ltd. owned 4.93% of CollPlant Biotechnologies worth $2,805,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 21.69% of the company’s stock.

Wall Street Analysts Forecast Growth

CLGN has been the subject of a number of research reports. HC Wainwright reaffirmed 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 upgraded CollPlant Biotechnologies to a “strong-buy” rating in a research note on Monday, August 5th.

CollPlant Biotechnologies Trading Up 0.6 %

Shares of NASDAQ:CLGN traded up $0.03 during trading on Tuesday, reaching $5.00. The stock had a trading volume of 874 shares, compared to its average volume of 9,247. The company has a market capitalization of $57.27 million, a P/E ratio of -6.91 and a beta of 0.31. The firm’s 50-day simple moving average is $4.85 and its 200 day simple moving average is $5.21. CollPlant Biotechnologies has a one year low of $4.10 and a one year high of $6.99.

CollPlant Biotechnologies (NASDAQ:CLGN) last announced 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 firm had revenue of $0.25 million during the quarter, compared to analyst estimates of $0.70 million. CollPlant Biotechnologies had a negative net margin of 2,535.70% and a negative return on equity of 65.98%. Equities research analysts forecast that CollPlant Biotechnologies will post -1.44 earnings per share for the current fiscal year.

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.