Covalon Technologies (CVE:COV) Stock Price Down 3.7% - Here's Why

Covalon Technologies Ltd. (CVE:COV - Get Free Report)'s stock price was down 3.7% during trading on Thursday . The stock traded as low as C$3.30 and last traded at C$3.35. Approximately 11,590 shares changed hands during trading, a decline of 42% from the average daily volume of 19,946 shares. The stock had previously closed at C$3.48.

Covalon Technologies Price Performance

The stock has a market capitalization of C$92.89 million, a price-to-earnings ratio of -83.75 and a beta of 0.64. The business has a 50-day simple moving average of C$3.51 and a two-hundred day simple moving average of C$2.84. The company has a quick ratio of 6.45, a current ratio of 5.24 and a debt-to-equity ratio of 4.98.

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.