Covalon Technologies Ltd. (OTCMKTS:CVALF) Short Interest Down 46.6% in July

Covalon Technologies Ltd. (OTCMKTS:CVALF) was the target of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 17,648 shares, a decrease of 46.6% from the June 30th total of 33,048 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average trading volume of 3,660 shares, the days-to-cover ratio is presently 4.8 days.

Covalon Technologies Trading Up 1.4%

Shares of CVALF opened at $1.57 on Thursday. The company’s 50 day simple moving average is $1.52 and its 200-day simple moving average is $1.39. The firm has a market cap of $43.42 million, a PE ratio of 39.31 and a beta of 0.63. Covalon Technologies has a 12-month low of $1.16 and a 12-month high of $2.14.

Covalon Technologies (OTCMKTS:CVALF) last released its quarterly earnings results on Thursday, May 21st. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. The firm had revenue of $6.27 million during the quarter, compared to the consensus estimate of $6.70 million. Covalon Technologies had a net margin of 5.05% and a return on equity of 5.77%.

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.