Covalon Technologies Ltd. (OTCMKTS:CVALF) Short Interest Down 46.6% in July

Covalon Technologies Ltd. (OTCMKTS:CVALF) was the target of a large decrease in short interest in July. As of July 15th, there was short interest totaling 17,648 shares, a decrease of 46.6% from the June 30th total of 33,048 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average trading volume of 3,660 shares, the days-to-cover ratio is presently 4.8 days.

Covalon Technologies Stock Performance

Shares of OTCMKTS CVALF remained flat at $1.57 during midday trading on Friday. The stock had a trading volume of 1,000 shares, compared to its average volume of 1,239. The firm has a fifty day simple moving average of $1.53 and a two-hundred day simple moving average of $1.39. The company has a market cap of $43.42 million, a P/E ratio of 39.31 and a beta of 0.63. Covalon Technologies has a 1-year low of $1.16 and a 1-year high of $2.14.

Covalon Technologies (OTCMKTS:CVALF) last announced its quarterly earnings results on Thursday, May 21st. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. Covalon Technologies had a return on equity of 5.77% and a net margin of 5.05%.The firm had revenue of $6.27 million during the quarter, compared to the consensus estimate of $6.70 million.

Covalon Technologies Company Profile

Covalon Technologies Ltd. (OTCMKTS:CVALF) is a Canadian medical device and life sciences company specializing in advanced wound care and infection prevention solutions. Based in Toronto, Ontario, Covalon leverages proprietary photochemical bonding technology to create antimicrobial and anti-adhesion polymer coatings for a range of medical devices and wound dressings. The company’s core focus is on reducing surgical site infections and improving healing outcomes through innovative biomaterials.

The company’s product portfolio comprises hydrogel-based wound dressings and polymer-coated medical device components.