Covalon Technologies (OTCMKTS:CVALF) Trading Up 3.3% – Should You Buy?

Covalon Technologies Ltd. (OTCMKTS:CVALF)’s stock price shot up 3.3% on Thursday . The company traded as high as $2.67 and last traded at $2.65. Approximately 21,758 shares were traded during mid-day trading, an increase of 6% from the average daily volume of 20,557 shares. The stock had previously closed at $2.5650.

Covalon Technologies Stock Performance

The company’s fifty day simple moving average is $1.84 and its 200-day simple moving average is $1.58. The company has a market capitalization of $73.19 million, a P/E ratio of 24.09 and a beta of 0.64.

Covalon Technologies (OTCMKTS:CVALF) last posted its quarterly earnings results on Thursday, August 27th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.01 by $0.06. Covalon Technologies had a net margin of 12.77% and a return on equity of 15.54%. The business had revenue of $7.07 million during the quarter, compared to analyst estimates of $6.65 million.

Covalon Technologies Company Profile

Covalon Technologies Ltd. is a Canadian medical technology company focused on developing and commercializing advanced healthcare products. Its activities center on wound care, infection prevention and surgical applications, with technologies designed to help protect tissue, support healing and improve the management of medical procedures.

The company’s product portfolio includes collagen-based wound care products marketed under the ColActive brand, as well as antimicrobial and protective coatings, dressings and other medical devices.