Short Interest in Covalon Technologies Ltd. (OTCMKTS:CVALF) Increases By 92.9%

Covalon Technologies Ltd. (OTCMKTS:CVALF) was the target of a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 30,283 shares, an increase of 92.9% from the May 14th total of 15,702 shares. Based on an average daily trading volume, of 14,795 shares, the short-interest ratio is currently 2.0 days. Approximately 0.1% of the company’s shares are short sold.

Covalon Technologies Price Performance

Covalon Technologies stock opened at $1.54 on Friday. The firm has a 50 day simple moving average of $1.45 and a 200-day simple moving average of $1.34. Covalon Technologies has a 1-year low of $1.16 and a 1-year high of $2.14. The stock has a market cap of $42.66 million, a price-to-earnings ratio of 38.63 and a beta of 0.62.

Covalon Technologies (OTCMKTS:CVALF) last posted its quarterly earnings results on Thursday, May 21st. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. Covalon Technologies had a net margin of 5.05% and a return on equity of 5.74%. The business had revenue of $6.27 million during the quarter, compared to analysts’ expectations 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.