Covalon Technologies (CVE:COV) Shares Down 16.7% - Should You Sell?

Key Points

• Covalon Technologies Ltd. shares fell 16.7% during mid-day trading, dropping from a previous close of C$2.88 to C$2.40.
• The stock experienced a significant increase in trading volume, with 181,028 shares changing hands, which is a 555% rise from the average session volume.
• Covalon specializes in the research and development of medical products for infection management and advanced wound care, with a market capitalization of C$65.76 million.

Covalon Technologies Ltd. (CVE:COV - ) shares fell 16.7% during mid-day trading on Friday . The stock traded as low as C$2.36 and last traded at C$2.40. 181,028 shares changed hands during mid-day trading, an increase of 555% from the average session volume of 27,638 shares. The stock had previously closed at C$2.88.

Covalon Technologies Price Performance

The company's 50 day moving average price is C$2.52 and its 200-day moving average price is C$2.51. 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 company has a market capitalization of C$65.76 million, a PE ratio of 27.55 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.

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