Covalon Technologies (OTCMKTS:CVALF) Shares Up 1.1% – Still a Buy?

Covalon Technologies Ltd. (OTCMKTS:CVALF – Get Free Report) shares shot up 1.1% during mid-day trading on Thursday. The stock traded as high as $2.80 and last traded at $2.75. Approximately 6,605 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 29,122 shares. The stock had previously closed at $2.72.

Covalon Technologies Price Performance

The company has a market cap of $77.34 million, a P/E ratio of 25.46 and a beta of 0.78. The company has a fifty day simple moving average of $2.26 and a 200-day simple moving average of $1.74.

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Covalon Technologies (OTCMKTS:CVALF – Get Free Report) last released its quarterly earnings results on Thursday, August 27th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.06. Covalon Technologies had a net margin of 12.77% and a return on equity of 15.11%. The business had revenue of $7.07 million for the quarter, compared to analysts’ expectations of $6.65 million.

Covalon Technologies Company Profile

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Covalon Technologies Ltd. is a Canadian medical technology company that develops, manufactures and commercializes products designed to improve patient outcomes and reduce complications associated with wound care and medical procedures. Its technologies are intended for use by hospitals, healthcare professionals and patients in a range of clinical settings.

The company’s product portfolio includes advanced wound-care products, collagen-based dressings and antimicrobial solutions. Its offerings have included the ColActive line of wound dressings, including products formulated for different wound-management needs, as well as technologies intended to help protect skin and medical-device insertion sites from infection and damage.

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