Covalon Technologies (OTCMKTS:CVALF) Shares Up 10.5% – What’s Next?

Shares of Covalon Technologies Ltd. (OTCMKTS:CVALF) shot up 10.5% on Friday . The company traded as high as $1.37 and last traded at $1.37. 51,712 shares changed hands during mid-day trading, an increase of 512% from the average session volume of 8,443 shares. The stock had previously closed at $1.24.

Covalon Technologies Price Performance

The stock has a fifty day moving average of $1.37 and a 200 day moving average of $1.60. The stock has a market cap of $37.84 million, a price-to-earnings ratio of 27.41 and a beta of 0.46.

Covalon Technologies (OTCMKTS:CVALF) last posted its quarterly earnings results on Thursday, December 11th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. Covalon Technologies had a net margin of 6.25% and a return on equity of 6.75%. The company had revenue of $6.24 million during the quarter, compared to analyst estimates of $10.49 million.

About Covalon Technologies

Covalon Technologies Ltd. (OTCMKTS:CVALF) is a Canadian medical device and life sciences company specializing in advanced wound care and infection prevention solutions. Based in Toronto, Ontario, Covalon leverages proprietary photochemical bonding technology to create antimicrobial and anti-adhesion polymer coatings for a range of medical devices and wound dressings. The company’s core focus is on reducing surgical site infections and improving healing outcomes through innovative biomaterials.

The company’s product portfolio comprises hydrogel-based wound dressings and polymer-coated medical device components.