Covalon Technologies Stock Filter Stocks by Fundamentals
| COV Stock | CAD 0.97 0.13 11.82% |
Covalon Technologies fundamentals help investors to digest information that contributes to Covalon Technologies' financial success or failures. It also enables traders to predict the movement of Covalon Stock. The fundamental analysis module provides a way to measure Covalon Technologies' intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Covalon Technologies stock.
Covalon | Number of Shares Shorted |
Covalon Technologies Current Valuation Drivers
We derive many important indicators used in calculating different scores of Covalon Technologies from analyzing Covalon Technologies' financial statements. These drivers represent accounts that assess Covalon Technologies' ability to generate profits relative to its revenue, operating costs, and shareholders' equity. Below are some of Covalon Technologies' important valuation drivers and their relationship over time.
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Market Cap | 51.7M | 31.0M | 65.3M | 62.3M | 56.1M | 35.9M | |
| Enterprise Value | 60.2M | 48.4M | 45.0M | 50.4M | 45.4M | 33.7M |
Covalon Fundamentals
| Return On Equity | -0.24 | ||||
| Return On Asset | -0.13 | ||||
| Profit Margin | (0.20) % | ||||
| Operating Margin | (0.32) % | ||||
| Current Valuation | 20.22 M | ||||
| Shares Outstanding | 24.67 M | ||||
| Shares Owned By Insiders | 53.22 % | ||||
| Number Of Shares Shorted | 3.04 K | ||||
| 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) | ||||
| Short Ratio | 0.01 X | ||||
| Earnings Per Share | (0.19) X | ||||
| Target Price | 8.0 | ||||
| Beta | 0.53 | ||||
| Market Capitalization | 27.14 M | ||||
| Total Asset | 24.9 M | ||||
| Retained Earnings | (38.37 M) | ||||
| Working Capital | 16.1 M | ||||
| Net Asset | 24.9 M |
About Covalon Technologies Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Covalon Technologies's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Covalon Technologies using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Covalon Technologies based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Pair Trading with Covalon Technologies
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Covalon Technologies position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Covalon Technologies will appreciate offsetting losses from the drop in the long position's value.Moving against Covalon Stock
| 0.56 | XIM | Ximen Mining Corp | PairCorr |
The ability to find closely correlated positions to Covalon Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Covalon Technologies when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Covalon Technologies - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Covalon Technologies to buy it.
The correlation of Covalon Technologies is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Covalon Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Covalon Technologies moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Covalon Technologies can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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.
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators |