Covalon Technologies Ltd. (OTCMKTS:CVALF) Sees Significant Drop in Short Interest

Covalon Technologies Ltd. (OTCMKTS:CVALF) was the recipient of a significant decline in short interest during the month of February. As of February 15th, there was short interest totalling 3,200 shares, a decline of 67.3% from the January 31st total of 9,800 shares. Based on an average daily volume of 26,800 shares, the days-to-cover ratio is presently 0.1 days.

Covalon Technologies Trading Down 1.0 %

CVALF stock traded down $0.02 during trading on Friday, hitting $1.82. 3,200 shares of the company’s stock were exchanged, compared to its average volume of 22,990. The business has a 50-day moving average price of $2.17 and a two-hundred day moving average price of $2.33. The stock has a market capitalization of $49.90 million, a price-to-earnings ratio of 26.00 and a beta of -0.29. Covalon Technologies has a 52-week low of $0.74 and a 52-week high of $3.08.

Covalon Technologies (OTCMKTS:CVALF) last posted its earnings results on Friday, February 21st. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.06. The firm had revenue of $5.84 million during the quarter, compared to analysts’ expectations of $6.37 million. Covalon Technologies had a return on equity of 12.33% and a net margin of 8.58%.

Covalon Technologies Company Profile

Covalon Technologies Ltd. engages in the research, development, manufacturing, and marketing of medical products in infection management, advanced wound care, and surgical procedure areas in the United States, Canada, the Middle East, Asia, Latin America, and internationally. The company’s platform technologies comprise collagen matrix platform that is used to manufacture a family of products to treat chronic and infected wounds, including diabetic ulcers, pressure ulcers, venous ulcers, donor and graft sites, traumatic wounds healing by secondary intention, dehisced surgical wounds, and first and second degree burns; and antimicrobial silicone adhesive platform, which is used for family of pre and post-surgical, and vascular access products that are designed to kill bacteria or yeast that comes into contact with the antimicrobial silicone providing broad-spectrum antimicrobial activity.