Covalon Technologies (CVE:COV) Hits New 52-Week High – Here’s What Happened

Covalon Technologies Ltd. (CVE:COV)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as C$3.07 and last traded at C$3.05, with a volume of 4948 shares trading hands. The stock had previously closed at C$3.00.

Covalon Technologies Stock Up 8.2%

The stock has a market cap of C$91.14 million, a price-to-earnings ratio of 20.62 and a beta of 1.40. The stock has a 50 day simple moving average of C$2.32 and a 200 day simple moving average of C$2.07. The company has a quick ratio of 6.45, a current ratio of 8.56 and a debt-to-equity ratio of 5.35.

About Covalon Technologies

Covalon Technologies Ltd. engages in the research, development, manufacturing, and marketing of medical products in infection management, advanced wound care, and surgical procedure areas in the United States, Canada, the Middle East, Asia, Latin America, and internationally. The company's platform technologies comprise collagen matrix platform that is used to manufacture a family of products to treat chronic and infected wounds, including diabetic ulcers, pressure ulcers, venous ulcers, donor and graft sites, traumatic wounds healing by secondary intention, dehisced surgical wounds, and first and second degree burns; and antimicrobial silicone adhesive platform, which is used for family of pre and post-surgical, and vascular access products that are designed to kill bacteria or yeast that comes into contact with the antimicrobial silicone providing broad-spectrum antimicrobial activity.