Short Interest in Covalon Technologies Ltd. (OTCMKTS:CVALF) Drops By 67.3%

Covalon Technologies Ltd. (OTCMKTS:CVALF) saw a large drop in short interest in the month of February. As of February 15th, there was short interest totalling 3,200 shares, a drop of 67.3% from the January 31st total of 9,800 shares. Based on an average daily volume of 26,800 shares, the days-to-cover ratio is currently 0.1 days.

Covalon Technologies Stock Performance

CVALF traded down $0.10 during trading on Friday, hitting $1.84. 4,435 shares of the stock were exchanged, compared to its average volume of 23,511. The firm has a 50 day simple moving average of $2.18 and a 200 day simple moving average of $2.33. The firm has a market cap of $50.38 million, a price-to-earnings ratio of 26.25 and a beta of -0.29. Covalon Technologies has a 1 year low of $0.74 and a 1 year high of $3.08.

Covalon Technologies (OTCMKTS:CVALF) last released its quarterly earnings data on Friday, February 21st. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.06. The company had revenue of $5.84 million for 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%.

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.