Covalon Technologies (OTCMKTS:CVALF) Stock Price Up 2.2% – Here’s What Happened

Covalon Technologies Ltd. (OTCMKTS:CVALF) traded up 2.2% during mid-day trading on Monday . The company traded as high as $1.86 and last traded at $1.86. 2,000 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 16,468 shares. The stock had previously closed at $1.82.

Covalon Technologies Stock Up 2.2%

The stock’s 50 day moving average price is $1.69 and its 200-day moving average price is $2.08. The stock has a market capitalization of $51.00 million, a PE ratio of 26.58 and a beta of 0.49.

Covalon Technologies (OTCMKTS:CVALF) last released its earnings results on Friday, February 21st. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.06. The firm had revenue of $5.84 million for the quarter, compared to the consensus estimate of $6.37 million. Covalon Technologies had a return on equity of 12.33% and a net margin of 8.58%.

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.