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

Covalon Technologies Ltd. (OTCMKTS:CVALF) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 9,400 shares, a growth of 193.8% from the February 13th total of 3,200 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily volume of 41,600 shares, the short-interest ratio is currently 0.2 days.

Covalon Technologies Trading Down 0.6 %

Shares of CVALF stock opened at $1.58 on Thursday. Covalon Technologies has a 1 year low of $0.74 and a 1 year high of $3.08. The firm has a market capitalization of $43.32 million, a price-to-earnings ratio of 22.57 and a beta of -0.40. The firm’s 50 day moving average is $2.08 and its 200-day moving average is $2.31.

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

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.