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

CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) was the recipient of a large decline in short interest in March. As of March 15th, there was short interest totalling 1,900 shares, a decline of 60.4% from the February 28th total of 4,800 shares. Based on an average daily trading volume, of 9,500 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the company’s stock are short sold.

Analyst Ratings Changes

CLGN has been the subject of several analyst reports. HC Wainwright restated a “buy” rating and issued a $11.00 price objective on shares of CollPlant Biotechnologies in a report on Friday, November 29th. D. Boral Capital reissued a “buy” rating and issued a $14.00 price objective on shares of CollPlant Biotechnologies in a report on Thursday.

CollPlant Biotechnologies Stock Performance

CollPlant Biotechnologies stock traded down $0.10 during midday trading on Friday, reaching $2.55. 3,203 shares of the company’s stock were exchanged, compared to its average volume of 10,606. The stock’s 50-day simple moving average is $3.44 and its 200 day simple moving average is $3.93. The firm has a market cap of $29.21 million, a price-to-earnings ratio of -1.66 and a beta of 1.07. CollPlant Biotechnologies has a 52 week low of $2.54 and a 52 week high of $6.75.

CollPlant Biotechnologies (NASDAQ:CLGN) last announced its earnings results on Wednesday, March 26th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.08. The business had revenue of $0.17 million during the quarter, compared to the consensus estimate of $0.36 million. CollPlant Biotechnologies had a negative net margin of 2,680.00% and a negative return on equity of 77.05%. Research analysts forecast that CollPlant Biotechnologies will post -1.44 earnings per share for the current year.

Institutional Trading of CollPlant Biotechnologies

Several institutional investors have recently added to or reduced their stakes in CLGN. Benjamin Edwards Inc. bought a new position in CollPlant Biotechnologies during the 3rd quarter worth $112,000. AMH Equity Ltd grew its stake in shares of CollPlant Biotechnologies by 17.4% in the fourth quarter. AMH Equity Ltd now owns 116,500 shares of the company’s stock valued at $419,000 after acquiring an additional 17,295 shares in the last quarter. Renaissance Technologies LLC bought a new position in CollPlant Biotechnologies during the fourth quarter worth about $38,000. Finally, Wells Fargo & Company MN raised its stake in CollPlant Biotechnologies by 110.1% in the 4th quarter. Wells Fargo & Company MN now owns 8,405 shares of the company’s stock worth $30,000 after purchasing an additional 4,405 shares in the last quarter. 21.69% of the stock is currently owned by institutional investors.

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.