Covalon Technologies Ltd. (OTCMKTS:CVALF) Sees Significant Increase in Short Interest

Covalon Technologies Ltd. (OTCMKTS:CVALF) was the recipient of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 8,700 shares, a growth of 770.0% from the June 30th total of 1,000 shares. Based on an average trading volume of 9,800 shares, the days-to-cover ratio is presently 0.9 days.

Covalon Technologies Stock Performance

OTCMKTS:CVALF remained flat at $1.51 during trading hours on Thursday. The stock’s 50 day moving average is $1.41 and its 200 day moving average is $1.04. Covalon Technologies has a fifty-two week low of $0.73 and a fifty-two week high of $1.73.

Covalon Technologies (OTCMKTS:CVALF) last announced its earnings results on Wednesday, May 29th. The company reported $0.04 earnings per share for the quarter. Covalon Technologies had a negative net margin of 10.61% and a negative return on equity of 14.41%. The firm had revenue of $6.22 million for the quarter.

About Covalon Technologies

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.