Covalon Technologies (CVE:COV) Shares Up 2.3% – What’s Next?

Covalon Technologies Ltd. (CVE:COV) rose 2.3% on Wednesday . The company traded as high as C$3.15 and last traded at C$3.12. Approximately 20,143 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 58,076 shares. The stock had previously closed at C$3.05.

Covalon Technologies Price Performance

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 company’s 50 day moving average price is C$3.38 and its 200-day moving average price is C$3.14. The company has a market cap of C$85.49 million, a price-to-earnings ratio of -78.00 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.