Velan (TSE:VLN) Shares Up 31.8% - Here's What Happened

Shares of Velan Inc. (TSE:VLN - Get Free Report) were up 31.8% during trading on Wednesday . The stock traded as high as C$15.83 and last traded at C$15.50. Approximately 85,944 shares changed hands during trading, an increase of 240% from the average daily volume of 25,311 shares. The stock had previously closed at C$11.76.

Velan Trading Up 36.1 %

The company has a debt-to-equity ratio of 21.02, a current ratio of 2.55 and a quick ratio of 1.11. The company's 50 day simple moving average is C$11.07 and its two-hundred day simple moving average is C$8.73. The company has a market cap of C$96.32 million, a PE ratio of -20.00 and a beta of 0.77.

Velan Company Profile

Velan Inc designs, manufactures, and markets industrial valves worldwide. The company offers quarter-turn valves, such as ball, high performance three-piece ball, general purpose ball, metal-seated ball, triple-offset, high performance cryogenic butterfly, coker ball, and cap-tight batch digester capping valves; and gate, globe, and check valves, including pressure seal, bolted bonnet high pressure, cast steel, cast stainless steel corrosion resistant, small forged, bonnetless, and dual-plate check valves, as well as maintenance valves for nuclear service.