Covalon Technologies Ltd. (OTCMKTS:CVALF – Get Free Report) was the recipient of a significant growth in short interest in May. As of May 29th, there was short interest totaling 30,283 shares, a growth of 92.9% from the May 14th total of 15,702 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 14,795 shares, the days-to-cover ratio is presently 2.0 days.
Covalon Technologies Stock Up 0.6%
CVALF traded up $0.01 on Tuesday, reaching $1.55. The company’s stock had a trading volume of 3,200 shares, compared to its average volume of 8,776. The stock has a 50 day moving average of $1.46 and a two-hundred day moving average of $1.34. The company has a market capitalization of $42.81 million, a price-to-earnings ratio of 38.76 and a beta of 0.62. Covalon Technologies has a fifty-two week low of $1.16 and a fifty-two week high of $2.14.
Covalon Technologies (OTCMKTS:CVALF – Get Free Report) last announced its quarterly earnings results on Thursday, May 21st. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. Covalon Technologies had a return on equity of 5.74% and a net margin of 5.05%.The firm had revenue of $6.27 million during the quarter, compared to the consensus estimate of $6.70 million.
About Covalon Technologies
Covalon Technologies Ltd. (OTCMKTS:CVALF) is a Canadian medical device and life sciences company specializing in advanced wound care and infection prevention solutions. Based in Toronto, Ontario, Covalon leverages proprietary photochemical bonding technology to create antimicrobial and anti-adhesion polymer coatings for a range of medical devices and wound dressings. The company’s core focus is on reducing surgical site infections and improving healing outcomes through innovative biomaterials.
The company’s product portfolio comprises hydrogel-based wound dressings and polymer-coated medical device components.
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