Short Interest in CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) Grows By 79.0%

CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) was the target of a large increase in short interest in October. As of October 15th, there was short interest totalling 14,500 shares, an increase of 79.0% from the September 30th total of 8,100 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average trading volume of 12,100 shares, the short-interest ratio is presently 1.2 days.

CollPlant Biotechnologies Price Performance

Shares of CLGN traded up $0.12 during trading hours on Friday, reaching $3.97. 9,577 shares of the company’s stock traded hands, compared to its average volume of 9,524. The firm has a market capitalization of $45.50 million, a price-to-earnings ratio of -5.79 and a beta of 0.31. The business’s fifty day simple moving average is $4.79 and its two-hundred day simple moving average is $5.11. CollPlant Biotechnologies has a twelve month low of $3.76 and a twelve month 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). CollPlant Biotechnologies had a negative return on equity of 65.98% and a negative net margin of 2,535.70%. The company had revenue of $0.25 million for the quarter, compared to analyst estimates of $0.70 million. On average, equities research analysts expect that CollPlant Biotechnologies will post -1.44 EPS for the current year.

Institutional Trading of CollPlant Biotechnologies

An institutional investor recently raised its position in CollPlant Biotechnologies stock. Pinnacle Associates Ltd. increased its position in shares of CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) by 6.4% during the second quarter, according to its most recent Form 13F filing 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. 21.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. EF Hutton Acquisition Co. I raised shares of CollPlant Biotechnologies to a “strong-buy” rating in a report on Monday, August 5th. HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of CollPlant Biotechnologies in a research note on Wednesday, August 21st.

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.