Covalon Technologies (CVE:COV) Trading Down 15% – What’s Next?

Covalon Technologies Ltd. (CVE:COV)’s share price fell 15% during trading on Tuesday . The stock traded as low as C$2.80 and last traded at C$3.05. 188,058 shares were traded during trading, an increase of 115% from the average session volume of 87,410 shares. The stock had previously closed at C$3.59.

Covalon Technologies Price Performance

The firm has a market capitalization of C$86.04 million, a P/E ratio of -78.50 and a beta of 0.64. The company has a debt-to-equity ratio of 4.98, a quick ratio of 6.45 and a current ratio of 5.24. The business has a 50 day simple moving average of C$3.54 and a two-hundred day simple moving average of C$3.03.

Covalon Technologies Company Profile

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.