Covalon Technologies (CVE:COV) Trading Down 2.6% - Here's Why

Key Points

• Stock down 2.6% — Covalon's shares fell to C$1.90 on Monday with 4,509 shares traded, a 66% drop from the average session volume of 13,306.
• Mixed financials: market capitalization C$52.47 million and a P/E of 63.33, with a high debt-to-equity ratio of 7.82 but strong liquidity (current ratio 5.69, quick ratio 6.45).
• Business focus: the company develops and sells medical products for infection management and advanced wound care, including collagen matrix and antimicrobial silicone adhesive platform products.

Covalon Technologies Ltd. (CVE:COV - )'s stock price traded down 2.6% on Monday . The stock traded as low as C$1.90 and last traded at C$1.90. 4,509 shares were traded during trading, a decline of 66% from the average session volume of 13,306 shares. The stock had previously closed at C$1.95.

Covalon Technologies Stock Performance

The company has a market capitalization of C$52.47 million, a P/E ratio of 63.33 and a beta of 1.01. The company has a debt-to-equity ratio of 7.82, a current ratio of 5.69 and a quick ratio of 6.45. The company has a fifty day moving average price of C$1.82 and a two-hundred day moving average price of C$1.85.

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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