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

Covalon Technologies Ltd. (CVE:COV)’s share price hit a new 52-week high during trading on Monday. The stock traded as high as C$4.40 and last traded at C$4.27, with a volume of 49201 shares. The stock had previously closed at C$4.24.

Covalon Technologies Stock Down 7.5%

The company has a debt-to-equity ratio of 5.35, a quick ratio of 6.45 and a current ratio of 8.56. The stock’s fifty day simple moving average is C$2.88 and its two-hundred day simple moving average is C$2.31. The company has a market capitalization of C$116.55 million, a price-to-earnings ratio of 26.37 and a beta of 1.40.

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.