Covalon Technologies (OTCMKTS:CVALF) Shares Climb 1.1% – Should You Buy?

Shares of Covalon Technologies Ltd. (OTCMKTS:CVALF) shot up 1.1% on Thursday. The company 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 Performance

The firm’s 50-day moving average price is $2.23 and its two-hundred day moving average price is $1.73. The firm has a market cap of $75.95 million, a PE ratio of 25.00 and a beta of 0.78.

Covalon Technologies (OTCMKTS:CVALF) last posted its earnings results on Thursday, August 27th. The company reported $0.07 EPS for the quarter, beating 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 the consensus estimate 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.