Covalon Technologies (CVE:COV) Shares Up 6.4% – Here’s Why

Covalon Technologies Ltd. (CVE:COV)’s share price was up 6.4% during trading on Wednesday . The stock traded as high as C$3.20 and last traded at C$3.18. Approximately 65,649 shares traded hands during mid-day trading, an increase of 32% from the average daily volume of 49,559 shares. The stock had previously closed at C$2.99.

Covalon Technologies Stock Performance

The company has a quick ratio of 6.45, a current ratio of 7.27 and a debt-to-equity ratio of 3.28. The business has a 50 day moving average price of C$3.19 and a two-hundred day moving average price of C$3.24. The stock has a market cap of C$87.13 million, a P/E ratio of 36.50 and a beta of 0.64.

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.