Covalon Technologies Stock Performance
| COV Stock | CAD 1.04 0.03 2.80% |
The firm shows a Beta (market volatility) of 0.26, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Covalon Technologies' returns are expected to increase less than the market. However, during the bear market, the loss of holding Covalon Technologies is expected to be smaller as well. Covalon Technologies has an expected return of -0.0208%. Please make sure to confirm Covalon Technologies treynor ratio, kurtosis, as well as the relationship between the Kurtosis and day median price , to decide if Covalon Technologies performance from the past will be repeated at some point in the near future.
Risk-Adjusted Performance
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Over the last 90 days Covalon Technologies has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly stable basic indicators, Covalon Technologies is not utilizing all of its potentials. The current stock price fuss, may contribute to near-short-term losses for the sophisticated investors. ...more
Last Split Factor 1:10 | Last Split Date 2013-07-16 |
1 | Covalon Announces Virtual Shareholders Meeting - TipRanks.com - TipRanks | 02/28/2024 |
2 | Covalon Announces Voting Results from Fiscal 2023 Annual Meeting of Shareholders - Yahoo Finance | 03/07/2024 |
3 | Covalon Technologies Trading Up 3 percent - American Banking and Market News - American Banking News | 03/15/2024 |
4 | Closing Bell Covalon Technologies Ltd down on Friday - The Globe and Mail | 04/16/2024 |
5 | Closing Bell Covalon Technologies Ltd down on Wednesday - The Globe and Mail | 04/25/2024 |
6 | Closing Bell Covalon Technologies Ltd up on Wednesday - The Globe and Mail | 05/09/2024 |
| Begin Period Cash Flow | 14.1 M |
Covalon |
Covalon Technologies Relative Risk vs. Return Landscape
If you would invest 117.00 in Covalon Technologies on February 15, 2024 and sell it today you would lose (13.00) from holding Covalon Technologies or give up 11.11% of portfolio value over 90 days. Covalon Technologies is currently producing negative expected returns and takes up 5.8739% volatility of returns over 90 trading days. Put another way, 52% of traded stocks are less volatile than Covalon, and 99% of all traded equity instruments are likely to generate higher returns over the next 90 trading days. Expected Return |
| Risk |
Covalon Technologies Market Risk Analysis
Today, many novice investors tend to focus exclusively on investment returns with little concern for Covalon Technologies' investment risk. Standard deviation is the most common way to measure market volatility of stocks, such as Covalon Technologies, and traders can use it to determine the average amount a Covalon Technologies' price has deviated from the expected return over a period of time. It is calculated by determining the expected price for the established period and then subtracting this figure from each price point. The differences are then squared, summed, and averaged to produce the variance.
Sharpe Ratio = -0.0035
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| Negative Returns | COV |
Estimated Market Risk
| 5.87 actual daily | 51 51% of assets are less volatile |
Expected Return
| -0.02 actual daily | 0 Most of other assets have higher returns |
Risk-Adjusted Return
| 0.0 actual daily | 0 Most of other assets perform better |
Based on monthly moving average Covalon Technologies is not performing at its full potential. However, if added to a well diversified portfolio the total return can be enhanced and market risk can be reduced. You can increase risk-adjusted return of Covalon Technologies by adding Covalon Technologies to a well-diversified portfolio.
Covalon Technologies Fundamentals Growth
Covalon Stock prices reflect investors' perceptions of the future prospects and financial health of Covalon Technologies, and Covalon Technologies fundamentals are critical determinants of its market performance. Overall, investors pay close attention to revenue and earnings growth, profit margins, and debt levels. These fundamentals can have a significant impact on Covalon Stock performance.
| Return On Equity | -0.24 | ||||
| Return On Asset | -0.13 | ||||
| Profit Margin | (0.20) % | ||||
| Operating Margin | (0.32) % | ||||
| Current Valuation | 19.97 M | ||||
| Shares Outstanding | 24.67 M | ||||
| Price To Earning | 69.86 X | ||||
| Price To Book | 1.54 X | ||||
| Price To Sales | 1.08 X | ||||
| Revenue | 26.6 M | ||||
| Gross Profit | 7.49 M | ||||
| EBITDA | (3.56 M) | ||||
| Net Income | (4.46 M) | ||||
| Cash And Equivalents | 2.53 M | ||||
| Cash Per Share | 0.10 X | ||||
| Total Debt | 1.56 M | ||||
| Debt To Equity | 2.49 % | ||||
| Current Ratio | 0.63 X | ||||
| Book Value Per Share | 0.72 X | ||||
| Cash Flow From Operations | (3.18 M) | ||||
| Earnings Per Share | (0.19) X | ||||
| Market Capitalization | 26.89 M | ||||
| Total Asset | 24.9 M | ||||
| Retained Earnings | (38.37 M) | ||||
| Working Capital | 16.1 M | ||||
About Covalon Technologies Performance
To evaluate Covalon Technologies Stock as a possible investment, you need to clearly understand its upside potential, downside risk, and overall future performance outlook. You may be satisfied when Covalon Technologies generates a 15% return over the last few months, but what if the market is generating 25% over the same period? In this case, it makes sense to compare Covalon Stock's performance with different market indexes, such as the Dow or NASDAQ Composite. These indexes can act as benchmarks that will help you to understand Covalon Technologies market performance in a much more refined way. The Macroaxis performance score is an integer between 0 and 100 that represents Covalon's market performance from a risk-adjusted return perspective. Generally speaking, the higher the score, the better is overall performance as compared to other investors. The score is normalized against the average investing universe (the best we can interpret from the data available). Within this methodology, scores of individual equity instruments will always be inferior to the scores of portfolios of equities as portfolios typically diversify a lot of unsystematic risks away. The formula to derive the Macroaxis score bases on multiple unequally-weighted factors. For more information, refer to our portfolio performance evaluation section.
Please also refer to our technical analysis and fundamental analysis pages.| Last Reported | Projected for Next Year | ||
| Days Of Inventory On Hand | 159.63 | 124.60 | |
| Return On Tangible Assets | (0.17) | (0.18) | |
| Return On Capital Employed | (0.21) | (0.22) | |
| Return On Assets | (0.16) | (0.17) | |
| Return On Equity | (0.21) | (0.22) |
Things to note about Covalon Technologies performance evaluation
Checking the ongoing alerts about Covalon Technologies for important developments is a great way to find new opportunities for your next move. Stock alerts and notifications screener for Covalon Technologies help investors to be notified of important events, changes in technical or fundamental conditions, and significant headlines that can affect investment decisions.| Covalon Technologies generated a negative expected return over the last 90 days | |
| Covalon Technologies has high historical volatility and very poor performance | |
| Covalon Technologies has some characteristics of a very speculative penny stock | |
| The company has accumulated 1.56 M in total debt with debt to equity ratio (D/E) of 2.49, implying the company greatly relies on financing operations through barrowing. Covalon Technologies has a current ratio of 0.62, indicating that it has a negative working capital and may not be able to pay financial obligations in time and when they become due. Debt can assist Covalon Technologies until it has trouble settling it off, either with new capital or with free cash flow. So, Covalon Technologies' shareholders could walk away with nothing if the company can't fulfill its legal obligations to repay debt. However, a more frequent occurrence is when companies like Covalon Technologies sell additional shares at bargain prices, diluting existing shareholders. Debt, in this case, can be an excellent and much better tool for Covalon to invest in growth at high rates of return. When we think about Covalon Technologies' use of debt, we should always consider it together with cash and equity. | |
| The entity reported the revenue of 26.6 M. Net Loss for the year was (4.46 M) with profit before overhead, payroll, taxes, and interest of 7.49 M. | |
| Covalon Technologies has accumulated about 2.53 M in cash with (3.18 M) of positive cash flow from operations. This results in cash-per-share (CPS) ratio of 0.1. | |
| Roughly 53.0% of Covalon Technologies shares are held by company insiders | |
| Latest headline from news.google.com: Closing Bell Covalon Technologies Ltd up on Wednesday - The Globe and Mail |
- Analyzing Covalon Technologies' financial statements, including its income statement, balance sheet, and cash flow statement, helps in understanding its overall financial health and growth potential.
- Getting a closer look at valuation ratios like price-to-earnings (P/E) ratio, price-to-sales (P/S) ratio, and price-to-book (P/B) ratio help in understanding whether Covalon Technologies' stock is overvalued or undervalued compared to its peers.
- Examining Covalon Technologies' industry or sector and how it is performing can give you an idea of its growth potential and how it is positioned relative to its competitors.
- Evaluating Covalon Technologies' management team can have a significant impact on its success or failure. Reviewing the track record and experience of Covalon Technologies' management team can help you assess the Company's leadership.
- Pay attention to analyst opinions and ratings of Covalon Technologies' stock. These opinions can provide insight into Covalon Technologies' potential for growth and whether the stock is currently undervalued or overvalued.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Covalon Technologies. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
Complementary Tools for Covalon Stock analysis
When running Covalon Technologies' price analysis, check to measure Covalon Technologies' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Covalon Technologies is operating at the current time. Most of Covalon Technologies' value examination focuses on studying past and present price action to predict the probability of Covalon Technologies' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Covalon Technologies' price. Additionally, you may evaluate how the addition of Covalon Technologies to your portfolios can decrease your overall portfolio volatility.
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