Covalon Technologies (CVE:COV) Stock Price Up 11.5% – Here’s What Happened

Covalon Technologies Ltd. (CVE:COV) shares rose 11.5% on Friday . The stock traded as high as C$3.52 and last traded at C$3.49. Approximately 28,925 shares changed hands during trading, a decline of 36% from the average daily volume of 45,094 shares. The stock had previously closed at C$3.13.

Covalon Technologies Stock Up 11.5 %

The company has a debt-to-equity ratio of 4.98, a current ratio of 5.24 and a quick ratio of 6.45. The stock’s fifty day simple moving average is C$3.54 and its 200-day simple moving average is C$3.00. The stock has a market cap of C$95.63 million, a P/E ratio of -87.25 and a beta of 0.64.

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.