Covalon Technologies (CVE:COV) Shares Down 13.4% – Should You Sell?

Covalon Technologies Ltd. (CVE:COV) shares were down 13.4% during mid-day trading on Tuesday . The stock traded as low as C$2.80 and last traded at C$3.11. Approximately 160,296 shares traded hands during trading, an increase of 172% from the average daily volume of 58,853 shares. The stock had previously closed at C$3.59.

Covalon Technologies Stock Down 2.2 %

The company has a current ratio of 5.24, a quick ratio of 6.45 and a debt-to-equity ratio of 4.98. The firm has a 50-day moving average of C$3.54 and a 200 day moving average of C$3.03. The stock has a market capitalization of C$86.31 million, a price-to-earnings ratio of -78.75 and a beta of 0.64.

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.