Covalon Technologies (CVE:COV) Reaches New 12-Month High – Here’s What Happened

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

Covalon Technologies Price Performance

The stock has a market cap of C$104.67 million, a PE ratio of -95.25 and a beta of 0.64. The business’s 50-day simple moving average is C$3.30 and its 200-day simple moving average is C$2.48. The company has a quick ratio of 6.45, a current ratio of 5.24 and a debt-to-equity ratio of 4.98.

Covalon Technologies (CVE:COV) last announced its quarterly earnings results on Wednesday, August 21st. The company reported C$0.06 earnings per share (EPS) 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 for the quarter. On average, research analysts expect that Covalon Technologies Ltd. will post 0.3 EPS for the current fiscal year.

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.