Covalon Technologies Ltd. (OTCMKTS:CVALF) Short Interest Down 46.6% in July

Covalon Technologies Ltd. (OTCMKTS:CVALF) was the recipient of a large decrease in short interest in July. As of July 15th, there was short interest totaling 17,648 shares, a decrease of 46.6% from the June 30th total of 33,048 shares. Based on an average daily volume of 3,660 shares, the days-to-cover ratio is presently 4.8 days. Currently, 0.1% of the shares of the stock are sold short.

Covalon Technologies Stock Performance

Shares of Covalon Technologies stock opened at $1.55 on Wednesday. The firm has a market capitalization of $42.81 million, a PE ratio of 38.76 and a beta of 0.63. Covalon Technologies has a 12 month low of $1.16 and a 12 month high of $2.14. The business’s 50-day moving average price is $1.52 and its 200-day moving average price is $1.39.

Covalon Technologies (OTCMKTS:CVALF) last released its earnings results on Thursday, May 21st. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $6.27 million during the quarter, compared to the consensus estimate of $6.70 million. Covalon Technologies had a return on equity of 5.77% and a net margin of 5.05%.

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.