Covalon Technologies (CVE:COV) Reaches New 12-Month High – Here’s Why

Covalon Technologies Ltd. (CVE:COV) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$3.64 and last traded at C$3.54, with a volume of 7231 shares trading hands. The stock had previously closed at C$3.60.

Covalon Technologies Stock Down 3.9%

The firm’s 50 day simple moving average is C$2.47 and its 200 day simple moving average is C$2.15. The company has a market cap of C$95.56 million, a price-to-earnings ratio of 21.62 and a beta of 1.40. The company has a quick ratio of 6.45, a current ratio of 8.56 and a debt-to-equity ratio of 5.35.

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.