Short Interest in Covalon Technologies Ltd. (OTCMKTS:CVALF) Increases By 92.9%

Covalon Technologies Ltd. (OTCMKTS:CVALF) saw a large increase in short interest in May. As of May 29th, there was short interest totaling 30,283 shares, an increase of 92.9% from the May 14th total of 15,702 shares. Based on an average trading volume of 14,795 shares, the short-interest ratio is presently 2.0 days. Approximately 0.1% of the shares of the stock are short sold.

Covalon Technologies Trading Up 0.3%

Shares of OTCMKTS CVALF opened at $1.54 on Friday. Covalon Technologies has a 12-month low of $1.16 and a 12-month high of $2.14. The stock has a market cap of $42.66 million, a PE ratio of 38.63 and a beta of 0.62. The company has a 50-day moving average of $1.45 and a 200 day moving average of $1.34.

Covalon Technologies (OTCMKTS:CVALF) last announced its quarterly earnings data on Thursday, May 21st. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. Covalon Technologies had a net margin of 5.05% and a return on equity of 5.74%. The company had revenue of $6.27 million during the quarter, compared to analysts’ expectations 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.