Biofrontera Inc. (NASDAQ:BFRI) Short Interest Up 56.2% in August

Biofrontera Inc. (NASDAQ:BFRI) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 187,300 shares, an increase of 56.2% from the August 15th total of 119,900 shares. Currently, 2.2% of the company’s stock are short sold. Based on an average daily volume of 225,500 shares, the days-to-cover ratio is presently 0.8 days. Based on an average daily volume of 225,500 shares, the days-to-cover ratio is presently 0.8 days. Currently, 2.2% of the company’s stock are short sold.

Biofrontera Price Performance

Shares of Biofrontera stock opened at $0.84 on Tuesday. The stock’s 50-day simple moving average is $0.92 and its 200-day simple moving average is $0.80. Biofrontera has a 52 week low of $0.54 and a 52 week high of $2.22. The company has a market capitalization of $8.49 million, a price-to-earnings ratio of -0.37 and a beta of 0.49. The company has a quick ratio of 0.75, a current ratio of 0.96 and a debt-to-equity ratio of 8.99.

Biofrontera (NASDAQ:BFRI) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.12). Biofrontera had a negative net margin of 42.34% and a negative return on equity of 1,104.09%. The business had revenue of $9.03 million during the quarter, compared to analysts’ expectations of $8.30 million. As a group, analysts expect that Biofrontera will post -3.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biofrontera

A hedge fund recently raised its stake in Biofrontera stock. Rosalind Advisors Inc. increased its position in Biofrontera Inc. (NASDAQ:BFRI) by 51.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 976,448 shares of the company’s stock after buying an additional 332,055 shares during the period. Biofrontera accounts for about 0.3% of Rosalind Advisors Inc.’s investment portfolio, making the stock its 27th biggest position. Rosalind Advisors Inc. owned about 9.63% of Biofrontera worth $695,000 at the end of the most recent reporting period. 10.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Benchmark lowered their target price on Biofrontera from $7.00 to $2.75 and set a “buy” rating for the company in a research note on Monday, May 19th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Biofrontera has an average rating of “Buy” and an average target price of $2.75.

About Biofrontera

Biofrontera Inc, a biopharmaceutical company, engages in the commercialization of pharmaceutical products for the treatment of dermatological conditions in the United States. The company's products are used for the treatment of actinic keratoses, which are pre-cancerous skin lesions, as well as impetigo, a bacterial skin infection.