Covalon Technologies Ltd. (OTCMKTS:CVALF) Short Interest Up 147.1% in May

Covalon Technologies Ltd. (OTCMKTS:CVALF) was the target of a large growth in short interest in May. As of May 15th, there was short interest totalling 4,200 shares, a growth of 147.1% from the April 30th total of 1,700 shares. Based on an average daily volume of 9,600 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.0% of the shares of the stock are sold short.

Covalon Technologies Price Performance

CVALF opened at $1.77 on Friday. The company’s 50 day simple moving average is $1.75 and its two-hundred day simple moving average is $2.04. Covalon Technologies has a 1-year low of $0.93 and a 1-year high of $3.08. The firm has a market capitalization of $48.45 million, a price-to-earnings ratio of 25.25 and a beta of 0.49.

Covalon Technologies (OTCMKTS:CVALF) last released its earnings results on Wednesday, May 28th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. Covalon Technologies had a net margin of 8.58% and a return on equity of 12.33%. The business had revenue of $5.27 million for the quarter, compared to analyst estimates of $7.67 million.

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.