Covalon Technologies (OTCMKTS:CVALF) Shares Down 1.6% – Here’s Why

Covalon Technologies Ltd. (OTCMKTS:CVALF)’s share price dropped 1.6% on Tuesday . The stock traded as low as $1.52 and last traded at $1.53. Approximately 2,185 shares traded hands during trading, an increase of 21% from the average daily volume of 1,802 shares. The stock had previously closed at $1.55.

Covalon Technologies Price Performance

The stock has a 50-day moving average price of $1.73 and a 200-day moving average price of $1.75. The firm has a market capitalization of $41.82 million, a PE ratio of 30.51 and a beta of 0.61.

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.