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

by · The Markets Daily

Covalon Technologies Ltd. (OTCMKTS:CVALF – Get Free Report) saw a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 12,000 shares, a growth of 650.0% from the October 15th total of 1,600 shares. Based on an average daily volume of 26,500 shares, the days-to-cover ratio is presently 0.5 days.

Covalon Technologies Stock Down 3.9 %

Shares of OTCMKTS:CVALF traded down $0.11 during trading on Tuesday, hitting $2.68. 3,297 shares of the company traded hands, compared to its average volume of 15,027. The stock has a market capitalization of $73.43 million, a price-to-earnings ratio of -92.97 and a beta of -0.34. The business’s fifty day moving average is $2.39 and its 200-day moving average is $1.79. Covalon Technologies has a one year low of $0.73 and a one year high of $3.08.

Covalon Technologies (OTCMKTS:CVALF – Get Free Report) last posted its earnings results on Wednesday, August 21st. The company reported $0.04 EPS for the quarter. The company had revenue of $6.74 million during the quarter. Covalon Technologies had a negative return on equity of 4.40% and a negative net margin of 2.94%.

Covalon Technologies Company Profile

(Get Free Report)

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.

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