Covalon Technologies (OTCMKTS:CVALF) Trading 4.4% Higher – Here’s Why

Covalon Technologies Ltd. (OTCMKTS:CVALF) shares shot up 4.4% during mid-day trading on Tuesday . The stock traded as high as $1.41 and last traded at $1.4040. 10,000 shares traded hands during trading, a decline of 25% from the average session volume of 13,251 shares. The stock had previously closed at $1.3448.

Covalon Technologies Trading Up 4.4%

The company’s 50 day simple moving average is $1.52 and its 200-day simple moving average is $1.71. The firm has a market cap of $38.78 million, a P/E ratio of 28.09 and a beta of 0.53.

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.