Covalon Technologies (OTCMKTS:CVALF) Shares Climb 1.1% – Here’s What Happened

Covalon Technologies Ltd. (OTCMKTS:CVALF)’s share price was up 1.1% during mid-day trading on Thursday. The stock traded as high as $2.80 and last traded at $2.75. Approximately 6,605 shares changed hands during trading, a decline of 77% from the average session volume of 29,122 shares. The stock had previously closed at $2.72.

Covalon Technologies Stock Up 1.1%

The stock has a market cap of $75.95 million, a PE ratio of 25.00 and a beta of 0.78. The firm has a fifty day moving average of $2.23 and a 200 day moving average of $1.73.

Covalon Technologies (OTCMKTS:CVALF) last announced its quarterly earnings results on Thursday, August 27th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. The company had revenue of $7.07 million during the quarter, compared to the consensus estimate of $6.65 million. Covalon Technologies had a return on equity of 15.11% and a net margin of 12.77%.

Covalon Technologies Company Profile

Covalon Technologies Ltd. is a Canadian medical technology company that develops, manufactures and commercializes products designed to improve patient outcomes and reduce complications associated with wound care and medical procedures. Its technologies are intended for use by hospitals, healthcare professionals and patients in a range of clinical settings.

The company’s product portfolio includes advanced wound-care products, collagen-based dressings and antimicrobial solutions. Its offerings have included the ColActive line of wound dressings, including products formulated for different wound-management needs, as well as technologies intended to help protect skin and medical-device insertion sites from infection and damage.