Covalon Technologies Ltd. (OTCMKTS:CVALF) Stock Short Interest Rises 108.7%

Covalon Technologies Ltd. (OTCMKTS:CVALF) saw a significant growth in short interest in September. As of September 30th, there was short interest totaling 56,447 shares, a growth of 108.7% from the September 15th total of 27,042 shares. Based on an average daily trading volume, of 79,502 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.2% of the shares of the company are sold short.

Covalon Technologies Price Performance

Covalon Technologies stock traded down $0.04 during midday trading on Thursday, hitting $2.83. The company’s stock had a trading volume of 3,373 shares, compared to its average volume of 12,813. Covalon Technologies has a 1-year low of $1.16 and a 1-year high of $3.65. The company has a 50-day moving average price of $2.33 and a two-hundred day moving average price of $1.78. The company has a market cap of $78.22 million, a price-to-earnings ratio of 25.75 and a beta of 0.78.

Covalon Technologies (OTCMKTS:CVALF) last announced its 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. Covalon Technologies had a net margin of 12.77% and a return on equity of 15.11%. The firm had revenue of $7.07 million for the quarter, compared to analyst estimates of $6.65 million.

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.