Covalon Technologies (CVE:COV) Trading Up 26.6% – What’s Next?

Covalon Technologies Ltd. (CVE:COV)’s share price shot up 26.6% during mid-day trading on Thursday . The stock traded as high as C$3.00 and last traded at C$2.90. Approximately 125,676 shares traded hands during trading, an increase of 989% from the average session volume of 11,545 shares. The stock had previously closed at C$2.29.

Covalon Technologies Stock Up 28.8%

The firm has a market cap of C$81.47 million, a price-to-earnings ratio of 59.00 and a beta of 1.23. The firm’s 50 day moving average price is C$2.21 and its two-hundred day moving average price is C$2.00. The company has a debt-to-equity ratio of 6.33, a current ratio of 7.57 and a quick ratio of 6.45.

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.