CollPlant Biotechnologies (NASDAQ:CLGN) Issues Earnings Results

CollPlant Biotechnologies (NASDAQ:CLGN) posted its earnings results on Wednesday. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.08, Zacks reports. CollPlant Biotechnologies had a negative return on equity of 77.05% and a negative net margin of 2,680.00%. The company had revenue of $0.17 million during the quarter, compared to the consensus estimate of $0.36 million.

CollPlant Biotechnologies Stock Down 5.9 %

Shares of CLGN stock traded down $0.17 during trading hours on Thursday, reaching $2.64. The company’s stock had a trading volume of 13,000 shares, compared to its average volume of 10,569. CollPlant Biotechnologies has a fifty-two week low of $2.56 and a fifty-two week high of $6.75. The company has a market capitalization of $30.18 million, a price-to-earnings ratio of -1.71 and a beta of 1.07. The firm’s 50 day simple moving average is $3.50 and its 200-day simple moving average is $3.96.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CLGN. HC Wainwright reissued a “buy” rating and set a $11.00 price target on shares of CollPlant Biotechnologies in a research report on Friday, November 29th. D. Boral Capital reaffirmed a “buy” rating and issued a $14.00 price target on shares of CollPlant Biotechnologies in a research note on Thursday.

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.