CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) Short Interest Up 11.9% in August

CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 9,400 shares, an increase of 11.9% from the August 15th total of 8,400 shares. Based on an average daily trading volume, of 12,800 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Trading of CollPlant Biotechnologies

A hedge fund recently raised its stake in CollPlant Biotechnologies stock. Villere ST Denis J & Co. LLC lifted its stake in CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 366,967 shares of the company’s stock after buying an additional 5,674 shares during the period. Villere ST Denis J & Co. LLC owned approximately 3.20% of CollPlant Biotechnologies worth $1,963,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 21.69% of the company’s stock.

Wall Street Analysts Forecast Growth

CLGN has been the topic of several research reports. EF Hutton Acquisition Co. I upgraded CollPlant Biotechnologies to a “strong-buy” rating in a research note 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.

CollPlant Biotechnologies Stock Performance

NASDAQ:CLGN opened at $4.85 on Wednesday. CollPlant Biotechnologies has a 52-week low of $4.10 and a 52-week high of $6.99. The company has a market cap of $55.58 million, a P/E ratio of -7.14 and a beta of 0.31. The stock’s 50-day simple moving average is $4.90 and its 200 day simple moving average is $5.23.

CollPlant Biotechnologies (NASDAQ:CLGN) last posted its quarterly earnings results on Tuesday, August 20th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). CollPlant Biotechnologies had a negative net margin of 2,535.70% and a negative return on equity of 65.98%. The company had revenue of $0.25 million during the quarter, compared to the consensus estimate of $0.70 million. As a group, equities analysts predict 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.