Covalon Technologies (CVE:COV) Trading Down 16.7% – Should You Sell?

Covalon Technologies Ltd. (CVE:COV) shares dropped 16.7% during mid-day trading on Friday . The company traded as low as C$2.36 and last traded at C$2.40. Approximately 181,028 shares were traded during mid-day trading, an increase of 555% from the average daily volume of 27,638 shares. The stock had previously closed at C$2.88.

Covalon Technologies Stock Performance

The business has a fifty day simple moving average of C$2.52 and a 200-day simple moving average of C$2.51. The company has a quick ratio of 6.45, a current ratio of 7.27 and a debt-to-equity ratio of 3.28. The firm has a market cap of C$64.11 million, a P/E ratio of 26.86 and a beta of 0.64.

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.