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

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

Covalon Technologies Stock Performance

Covalon Technologies stock traded down $0.12 during mid-day trading on Thursday, reaching $2.56. The stock had a trading volume of 18,642 shares, compared to its average volume of 15,062. Covalon Technologies has a fifty-two week low of $0.73 and a fifty-two week high of $3.08. The stock’s 50-day simple moving average is $2.40 and its 200-day simple moving average is $1.80. The firm has a market capitalization of $70.02 million, a PE ratio of -85.16 and a beta of -0.34.

Covalon Technologies (OTCMKTS:CVALF) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.04 earnings per share for the quarter. The firm had revenue of $6.74 million for the quarter. Covalon Technologies had a negative net margin of 2.94% and a negative return on equity of 4.40%.

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.