Velan (TSE:VLN) Reaches New 1-Year High – Here’s Why

Velan Inc. (TSE:VLN)’s stock price hit a new 52-week high on Wednesday . The company traded as high as C$12.29 and last traded at C$12.20, with a volume of 9993 shares traded. The stock had previously closed at C$12.00.

Velan Price Performance

The firm’s 50 day moving average price is C$9.37 and its two-hundred day moving average price is C$7.18. 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 stock has a market cap of C$73.81 million, a PE ratio of -15.33 and a beta of 0.77.

Velan (TSE:VLN) last released its quarterly earnings data on Thursday, October 10th. The company reported C$0.01 earnings per share for the quarter. The business had revenue of C$135.12 million during the quarter. Velan had a negative net margin of 2.75% and a negative return on equity of 5.57%.

About Velan

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.