Covalon Technologies (CVE:COV) Hits New 52-Week High – Should You Buy?

Covalon Technologies Ltd. (CVE:COV) shares reached a new 52-week high during trading on Friday . The stock traded as high as C$3.95 and last traded at C$3.82, with a volume of 11793 shares. The stock had previously closed at C$3.81.

Covalon Technologies Price Performance

The business’s 50 day moving average is C$3.30 and its two-hundred day moving average is C$2.48. The company has a debt-to-equity ratio of 4.98, a quick ratio of 6.45 and a current ratio of 5.24. The firm has a market capitalization of C$104.67 million, a PE ratio of -95.25 and a beta of 0.64.

Covalon Technologies (CVE:COV) last announced its quarterly earnings results on Wednesday, August 21st. The company reported C$0.06 earnings per share for the quarter. Covalon Technologies had a negative return on equity of 3.85% and a negative net margin of 2.82%. The company had revenue of C$9.22 million during the quarter. Equities research analysts anticipate that Covalon Technologies Ltd. will post 0.3 earnings per share for the current fiscal year.

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.