Short Interest in Covalon Technologies Ltd. (OTCMKTS:CVALF) Decreases By 47.2%

Key Points

• Short interest in Covalon Technologies Ltd. decreased by 47.2% in July, totaling 5,600 shares short sold as of July 31.
• Shares of Cotavalon Technologies are currently trading at $1.91, with a market capitalization of $52.28 million.
• The company reported earnings of $0.01 per share for the last quarter, matching analysts' expectations, even though revenue fell short of estimates at $5.27 million.

Covalon Technologies Ltd. (OTCMKTS:CVALF - Get Free Report) was the recipient of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 5,600 shares, adecreaseof47.2% from the July 15th total of 10,600 shares. Based on an average daily volume of 12,400 shares, the short-interest ratio is presently 0.5 days. Currently,0.0% of the company's stock are sold short. Currently,0.0% of the company's stock are sold short. Based on an average daily volume of 12,400 shares, the short-interest ratio is presently 0.5 days.

Covalon Technologies Trading Down 4.0%

Shares of CVALF traded down $0.0710 during mid-day trading on Friday, reaching $1.6990. The company's stock had a trading volume of 7,150 shares, compared to its average volume of 12,540. Covalon Technologies has a 1-year low of $1.4601 and a 1-year high of $3.08. The stock has a market cap of $46.59 million, a P/E ratio of 33.99 and a beta of 0.63. The business has a 50-day simple moving average of $1.84 and a two-hundred day simple moving average of $1.80.

Covalon Technologies (OTCMKTS:CVALF - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $5.27 million during the quarter, compared to analysts' expectations of $7.67 million. Covalon Technologies had a return on equity of 7.79% and a net margin of 7.00%.

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.