CollPlant Biotechnologies (NASDAQ:CLGN) Trading Down 0.8% – Time to Sell?

CollPlant Biotechnologies Ltd. (NASDAQ:CLGN)’s share price fell 0.8% on Tuesday . The company traded as low as $3.85 and last traded at $3.89. 9,874 shares traded hands during trading, an increase of 5% from the average session volume of 9,436 shares. The stock had previously closed at $3.92.

Analyst Ratings Changes

A number of research firms have weighed in on CLGN. EF Hutton Acquisition Co. I raised shares of CollPlant Biotechnologies to a “strong-buy” rating in a research report on Monday, August 5th. HC Wainwright reissued a “buy” rating and set a $11.00 target price on shares of CollPlant Biotechnologies in a research report on Wednesday, August 21st.

CollPlant Biotechnologies Stock Performance

The stock has a market cap of $44.09 million, a price-to-earnings ratio of -5.85 and a beta of 0.31. The stock’s 50-day simple moving average is $4.82 and its two-hundred day simple moving average is $5.12.

CollPlant Biotechnologies (NASDAQ:CLGN) last released 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). 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, research analysts predict that CollPlant Biotechnologies Ltd. will post -1.44 earnings per share for the current year.

Institutional Investors Weigh In On CollPlant Biotechnologies

An institutional investor recently raised its position in CollPlant Biotechnologies stock. Pinnacle Associates Ltd. lifted its stake in CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) by 6.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 564,360 shares of the company’s stock after buying an additional 33,905 shares during the period. Pinnacle Associates Ltd. owned about 4.93% of CollPlant Biotechnologies worth $2,805,000 at the end of the most recent reporting period. Institutional investors own 21.69% of the company’s stock.

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.