Covalon Technologies (CVE:COV) Reaches New 1-Year Low – Here’s Why

Covalon Technologies Ltd. (CVE:COV) shares hit a new 52-week low on Thursday . The stock traded as low as C$1.81 and last traded at C$1.89, with a volume of 103009 shares. The stock had previously closed at C$1.97.

Covalon Technologies Stock Down 6.6%

The stock has a 50 day moving average of C$2.05 and a 200-day moving average of C$2.29. The firm has a market capitalization of C$50.45 million, a P/E ratio of 20.44 and a beta of 0.50. The company has a debt-to-equity ratio of 3.28, a quick ratio of 6.45 and a current ratio of 7.27.

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.