Covalon Technologies (CVE:COV) Trading Down 2% - Here's What Happened

Key Points

• Covalon Technologies Ltd.'s share price decreased by 2% to C$2.40, following a decline in trading volume of 67% from its average session volume.
• The company has a market capitalization of C$65.76 million and a P/E ratio of 27.55, indicating metrics that may impact investor interest.
• Covalon specializes in the development of medical products for infection management and advanced wound care, with a focus on treating complex wounds and surgical procedures.

Shares of Covalon Technologies Ltd. (CVE:COV - Get Free Report) fell 2% during mid-day trading on Wednesday . The stock traded as low as C$2.36 and last traded at C$2.40. 8,728 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 26,640 shares. The stock had previously closed at C$2.45.

Covalon Technologies Trading Up 0.4%

The company has a quick ratio of 6.45, a current ratio of 7.27 and a debt-to-equity ratio of 3.28. The firm has a 50 day moving average of C$2.48 and a 200 day moving average of C$2.55. The firm has a market cap of C$67.13 million, a PE ratio of 28.12 and a beta of 0.64.

About Covalon Technologies

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.