Covalon Technologies Ltd. (OTCMKTS:CVALF) Short Interest Up 92.9% in May

Covalon Technologies Ltd. (OTCMKTS:CVALF) was the target of a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 30,283 shares, a growth of 92.9% from the May 14th total of 15,702 shares. Based on an average trading volume of 14,795 shares, the days-to-cover ratio is currently 2.0 days. Approximately 0.1% of the shares of the stock are short sold.

Covalon Technologies Price Performance

OTCMKTS CVALF opened at $1.54 on Monday. Covalon Technologies has a 12 month low of $1.16 and a 12 month high of $2.14. The firm has a market capitalization of $42.66 million, a PE ratio of 38.63 and a beta of 0.62. The company’s 50 day simple moving average is $1.45 and its 200 day simple moving average is $1.34.

Covalon Technologies (OTCMKTS:CVALF) last posted its quarterly earnings results on Thursday, May 21st. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.02. The firm had revenue of $6.27 million for the quarter, compared to analyst estimates of $6.70 million. Covalon Technologies had a net margin of 5.05% and a return on equity of 5.74%.

About Covalon Technologies

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.