CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) Sees Large Decline in Short Interest

CollPlant Biotechnologies Ltd. Sponsored ADR (NASDAQ:CLGN) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 41,600 shares, a drop of 34.7% from the August 15th total of 63,700 shares. Based on an average daily volume of 64,300 shares, the short-interest ratio is presently 0.6 days. Currently, 0.4% of the company’s shares are short sold. Currently, 0.4% of the company’s shares are short sold. Based on an average daily volume of 64,300 shares, the short-interest ratio is presently 0.6 days.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CLGN shares. HC Wainwright reissued a “buy” rating and set a $11.00 target price on shares of CollPlant Biotechnologies in a research note on Thursday, August 21st. D. Boral Capital reissued a “buy” rating and issued a $12.00 price objective on shares of CollPlant Biotechnologies in a research report on Tuesday. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $11.50.

CollPlant Biotechnologies Stock Performance

Shares of CLGN opened at $2.58 on Wednesday. The stock has a 50-day moving average of $2.43 and a two-hundred day moving average of $2.31. The stock has a market cap of $32.82 million, a P/E ratio of -2.28 and a beta of 1.61. CollPlant Biotechnologies has a one year low of $1.31 and a one year high of $5.00.

CollPlant Biotechnologies (NASDAQ:CLGN) last announced its quarterly earnings data on Wednesday, August 20th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.57). CollPlant Biotechnologies had a negative net margin of 541.34% and a negative return on equity of 94.08%. The firm had revenue of $0.18 million during the quarter, compared to analyst estimates of $8.91 million. Analysts predict that CollPlant Biotechnologies will post -1.44 EPS for the current fiscal year.

Institutional Trading of CollPlant Biotechnologies

Several large investors have recently made changes to their positions in CLGN. AMH Equity Ltd increased its stake in shares of CollPlant Biotechnologies by 28.7% in the second quarter. AMH Equity Ltd now owns 160,849 shares of the company’s stock worth $219,000 after acquiring an additional 35,849 shares during the period. Pinnacle Associates Ltd. raised its stake in shares of CollPlant Biotechnologies by 3.7% during the 2nd quarter. Pinnacle Associates Ltd. now owns 507,193 shares of the company’s stock valued at $690,000 after buying an additional 18,000 shares during the last quarter. Finally, Villere ST Denis J & Co. LLC lifted its holdings in shares of CollPlant Biotechnologies by 13.0% in the 2nd quarter. Villere ST Denis J & Co. LLC now owns 546,867 shares of the company’s stock valued at $744,000 after buying an additional 63,000 shares during the period. 21.69% of the stock is owned by hedge funds and other institutional investors.

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.