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

Covalon Technologies Ltd. (OTCMKTS:CVALF) saw a large decrease in short interest during the month of 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. Based on an average daily volume of 23,579 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.1% of the company’s stock are short sold.

Covalon Technologies Price Performance

OTCMKTS CVALF traded down $0.02 during trading hours on Friday, hitting $3.16. The company’s stock had a trading volume of 8,500 shares, compared to its average volume of 13,182. Covalon Technologies has a 12 month low of $1.16 and a 12 month high of $3.65. The company’s 50 day simple moving average is $2.61 and its two-hundred day simple moving average is $1.71. The company has a market cap of $87.17 million, a P/E ratio of 28.69 and a beta of 0.78.

Covalon Technologies (OTCMKTS:CVALF) last announced its quarterly earnings results on Thursday, August 27th. The company reported $0.07 earnings per share (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.

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.