Covalon Technologies (CVE:COV) Shares Down 16.7% - Time to Sell?

Key Points

• Covalon Technologies Ltd. shares dropped 16.7%, trading as low as C$2.36, with a significant trading volume increase of 555% compared to its average.
• The company's market capitalization stands at C$65.76 million, and it has a high debt-to-equity ratio of 3.28, indicating potential financial risk.
• Covalon specializes in medical products for infection management and advanced wound care, capturing markets in various regions including the US, Canada, and Asia.

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

Covalon Technologies Price Performance

The firm has a market capitalization of C$65.76 million, a PE ratio of 27.55 and a beta of 0.64. The business's 50 day moving average is C$2.52 and its two-hundred day moving average is C$2.50. The company has a debt-to-equity ratio of 3.28, a current ratio of 7.27 and a quick ratio of 6.45.

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.