Covalon Technologies Ltd. (OTCMKTS:CVALF) Shares Shorted: Short Interest Down 57.2% in October

Covalon Technologies Ltd. (OTCMKTS:CVALF) was the recipient of a large decrease in short interest in October. As of October 15th, there was short interest totaling 24,176 shares, a decrease of 57.2% from the September 30th total of 56,447 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 23,579 shares, the days-to-cover ratio is presently 1.0 days.

Covalon Technologies Trading Down 0.2%

CVALF opened at $3.17 on Friday. The firm has a market cap of $87.67 million, a price-to-earnings ratio of 28.86 and a beta of 0.78. Covalon Technologies has a 12 month low of $1.16 and a 12 month high of $3.65. The stock has a fifty day moving average price of $2.64 and a 200-day moving average price of $1.72.

Covalon Technologies (OTCMKTS:CVALF) last posted its quarterly earnings data on Thursday, August 27th. The company reported $0.07 earnings per share 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 analysts’ expectations of $6.65 million. Covalon Technologies had a net margin of 12.77% and a return on equity of 15.11%.

About Covalon Technologies

Covalon Technologies Ltd. is a Canadian medical technology company that develops, manufactures and commercializes healthcare products designed to support wound care, infection prevention and surgical procedures. Its technologies are intended for use by hospitals, healthcare professionals and patients in managing wounds and protecting skin.

The company’s product portfolio includes advanced wound dressings, antimicrobial and protective barriers, surgical incision dressings, and other solutions for skin and tissue management.