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

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

Covalon Technologies Trading Down 1.0 %

Covalon Technologies stock traded down $0.02 during mid-day trading on Friday, hitting $1.82. The company had a trading volume of 3,200 shares, compared to its average volume of 22,990. Covalon Technologies has a 12-month low of $0.74 and a 12-month high of $3.08. The company has a market capitalization of $49.90 million, a price-to-earnings ratio of 26.00 and a beta of -0.29. The company’s fifty day moving average is $2.17 and its 200-day moving average is $2.33.

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

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.