Biofrontera Inc. (NASDAQ:BFRI) Sees Large Increase in Short Interest

Biofrontera Inc. (NASDAQ:BFRI) was the recipient of a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 686,600 shares, an increase of 116.9% from the November 15th total of 316,600 shares. Based on an average daily trading volume, of 2,820,000 shares, the short-interest ratio is presently 0.2 days. Currently, 12.1% of the company’s shares are sold short.

Analyst Ratings Changes

Separately, Benchmark reaffirmed a “buy” rating and issued a $7.00 price target on shares of Biofrontera in a research note on Friday, November 15th.

Biofrontera Stock Performance

Shares of BFRI remained flat at $1.06 during trading hours on Friday. 507,480 shares of the company were exchanged, compared to its average volume of 1,046,629. The company has a market cap of $8.22 million, a P/E ratio of -0.47 and a beta of 0.38. Biofrontera has a 1-year low of $0.61 and a 1-year high of $4.00. The company’s 50 day moving average is $0.91 and its 200-day moving average is $1.04.

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.