Covalon Technologies (CVE:COV) Stock Price Down 0.8% - Here's What Happened

Covalon Technologies Ltd. (CVE:COV - Get Free Report)'s share price dropped 0.8% during trading on Wednesday . The company traded as low as C$2.61 and last traded at C$2.61. Approximately 34,253 shares were traded during trading, an increase of 25% from the average daily volume of 27,329 shares. The stock had previously closed at C$2.63.

Covalon Technologies Price Performance

The firm has a market cap of C$70.96 million, a P/E ratio of 29.73 and a beta of 0.64. The company has a current ratio of 7.27, a quick ratio of 6.45 and a debt-to-equity ratio of 3.28. The business has a 50-day moving average of C$2.52 and a two-hundred day moving average of C$2.61.

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.