Covalon Technologies (OTCMKTS:CVALF) Trading Up 19.5% – Here’s Why

Covalon Technologies Ltd. (OTCMKTS:CVALF)’s share price traded up 19.5% during trading on Thursday . The stock traded as high as $1.84 and last traded at $1.84. 5,800 shares were traded during trading, a decline of 71% from the average session volume of 19,910 shares. The stock had previously closed at $1.54.

Covalon Technologies Stock Down 7.8 %

The firm has a market capitalization of $46.51 million, a P/E ratio of 24.24 and a beta of 0.19. The business’s 50-day simple moving average is $1.86 and its 200 day simple moving average is $2.23.

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

About Covalon Technologies

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.