Short Interest in Hancock Jaffe Laboratories Inc (NASDAQ:HJLI) Drops By 11.9%

Hancock Jaffe Laboratories Inc (NASDAQ:HJLI) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 20,800 shares, a decline of 11.9% from the July 31st total of 23,600 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 244,900 shares, the days-to-cover ratio is presently 0.1 days.

A hedge fund recently bought a new stake in Hancock Jaffe Laboratories stock. Jane Street Group LLC purchased a new position in shares of Hancock Jaffe Laboratories Inc (NASDAQ:HJLI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 77,915 shares of the company’s stock, valued at approximately $81,000. Jane Street Group LLC owned about 0.43% of Hancock Jaffe Laboratories as of its most recent filing with the Securities and Exchange Commission (SEC). 1.29% of the stock is owned by hedge funds and other institutional investors.

Hancock Jaffe Laboratories stock traded down $0.01 during midday trading on Friday, hitting $0.96. 84,300 shares of the stock were exchanged, compared to its average volume of 161,926. Hancock Jaffe Laboratories has a 52-week low of $0.87 and a 52-week high of $3.45. The stock has a market capitalization of $16.92 million, a price-to-earnings ratio of -0.50 and a beta of 1.38. The business’s 50-day moving average price is $1.03 and its 200-day moving average price is $1.51. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.15.

Hancock Jaffe Laboratories (NASDAQ:HJLI) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.13) earnings per share for the quarter. Hancock Jaffe Laboratories had a negative return on equity of 207.10% and a negative net margin of 5,250.79%.

Several research analysts recently weighed in on HJLI shares. ValuEngine cut shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Zacks Investment Research cut shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. Finally, Maxim Group restated a “buy” rating and set a $3.00 price target on shares of Hancock Jaffe Laboratories in a report on Thursday, August 15th.

About Hancock Jaffe Laboratories

Hancock Jaffe Laboratories, Inc, a development stage medical device company, develops and sells biological tissue solutions to treat patients with coronary, vascular, end stage renal, and peripheral arterial diseases in the United States and Europe. The company develops and manufactures implantable cardiovascular bioprosthetic devices for patients with cardiovascular disease, peripheral arterial and venous disease, and end stage renal disease.

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