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

Covalon Technologies Ltd. (OTCMKTS:CVALF) was the recipient of a large drop in short interest in 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 stock traded down $0.10 during midday trading on Friday, reaching $1.84. The stock had a trading volume of 4,435 shares, compared to its average volume of 23,511. The stock has a market cap of $50.38 million, a PE ratio of 26.25 and a beta of -0.29. The firm has a fifty day simple moving average of $2.18 and a two-hundred day simple moving average of $2.33. Covalon Technologies has a 52-week low of $0.74 and a 52-week high of $3.08.

Covalon Technologies (OTCMKTS:CVALF) last announced its quarterly earnings results on Friday, February 21st. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.06. The firm had revenue of $5.84 million during the quarter, compared to analyst estimates 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.