Covalon Technologies (CVE:COV) Shares Up 1.8% – Time to Buy?

Covalon Technologies Ltd. (CVE:COV)’s stock price shot up 1.8% on Tuesday . The stock traded as high as C$2.30 and last traded at C$2.28. 7,272 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 26,487 shares. The stock had previously closed at C$2.24.

Covalon Technologies Stock Up 1.8%

The stock has a market cap of C$62.51 million, a price-to-earnings ratio of 25.33 and a beta of 0.44. The company has a debt-to-equity ratio of 3.28, a current ratio of 7.27 and a quick ratio of 6.45. The firm has a 50 day simple moving average of C$2.22 and a two-hundred day simple moving average of C$2.39.

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.