Covalon Technologies Ltd. (OTCMKTS:CVALF) Shares Shorted: Short Interest Up 108.7% in September

Covalon Technologies Ltd. (OTCMKTS:CVALF) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 56,447 shares, a growth of 108.7% from the September 15th total of 27,042 shares. Based on an average trading volume of 79,502 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.2% of the company’s stock are sold short.

Covalon Technologies Price Performance

CVALF traded down $0.04 on Wednesday, hitting $2.83. The company had a trading volume of 11,363 shares, compared to its average volume of 12,741. The company’s fifty day moving average price is $2.31 and its 200 day moving average price is $1.77. The stock has a market cap of $78.26 million, a price-to-earnings ratio of 25.76 and a beta of 0.78. Covalon Technologies has a 1-year low of $1.16 and a 1-year high of $3.65.

Covalon Technologies (OTCMKTS:CVALF) last announced its quarterly earnings data on Thursday, August 27th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.06. The company had revenue of $7.07 million for the quarter, compared to analyst estimates of $6.65 million. Covalon Technologies had a return on equity of 15.11% and a net margin of 12.77%.

Covalon Technologies Company Profile

Covalon Technologies Ltd. is a Canadian medical technology company that develops, manufactures and commercializes products designed to improve patient outcomes and reduce complications associated with wound care and medical procedures. Its technologies are intended for use by hospitals, healthcare professionals and patients in a range of clinical settings.

The company’s product portfolio includes advanced wound-care products, collagen-based dressings and antimicrobial solutions. Its offerings have included the ColActive line of wound dressings, including products formulated for different wound-management needs, as well as technologies intended to help protect skin and medical-device insertion sites from infection and damage.