Covalon Technologies (CVE:COV) Reaches New 52-Week High – Still a Buy?

Covalon Technologies Ltd. (CVE:COV) hit a new 52-week high during trading on Friday . The stock traded as high as C$3.58 and last traded at C$3.57, with a volume of 28386 shares changing hands. The stock had previously closed at C$3.44.

Covalon Technologies Trading Up 4.7 %

The firm has a market cap of C$98.64 million, a P/E ratio of -86.00 and a beta of 0.64. The company has a 50 day moving average of C$3.24 and a 200 day moving average of C$2.39. The company has a debt-to-equity ratio of 4.98, a quick ratio of 6.45 and a current ratio of 5.24.

Covalon Technologies (CVE:COV) last announced its earnings results on Wednesday, August 21st. The company reported C$0.06 earnings per share (EPS) for the quarter. The firm had revenue of C$9.22 million during the quarter. Covalon Technologies had a negative return on equity of 3.85% and a negative net margin of 2.82%. Analysts predict that Covalon Technologies Ltd. will post 0.3 EPS for the current fiscal year.

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.