Covalon Stock Today

COV Stock  CAD 2.00  0.05  2.44%   
Market Performance
0 of 100
Odds Of Distress
Over 69
Covalon Technologies is selling for under 2.00 as of the 7th of February 2023; that is -2.44 percent decrease since the beginning of the trading day. The stock's lowest day price was 2.0. Covalon Technologies has more than 69 % chance of experiencing financial distress in the next few years of operation. It also generated negative returns for investors over the last 90 days. Equity ratings for Covalon Technologies are calculated daily based on our scoring framework. The performance scores are derived for the period starting the 9th of December 2022 and ending today, the 7th of February 2023. Click here to learn more.
Fiscal Year End
Covalon Technologies Ltd. researches, develops, manufactures, commercializes, and licenses medical technologies and products in the United States, Canada, the United Kingdom, Europe, the Middle East, Asia, Latin America, and internationally. It serves hospitals, wound care centers, burn centers, extendedalternate care and acute care facilities, home health care agencies, and physicians offices. The company has 25.07 M outstanding shares of which 8.17 K shares are currently shorted by private and institutional investors with about 2.09 days to cover all short positions. More on Covalon Technologies
Follow Valuation Odds of Bankruptcy
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Covalon Technologies Stock Highlights

Most reasonable investors view market volatility as an opportunity to invest at a favorable price or to sell short against a bearish trend. Covalon Technologies' investment highlights are automatically generated signals that are significant enough to either complement your investing judgment regarding Covalon Technologies or challenge it. These highlights can help you better understand the position you are entering and avoid costly mistakes.
CEOBrian Pedlar
Macroaxis Advice
The buy hold or sell recommendation is provided in the context of your current investment horizon and risk tolerance. The advice algorithm takes into account all of Covalon Technologies' available fundamental, technical, and predictive indicators. Your current horizon is 90 days - details
Covalon Technologies (COV) is traded on TSX Venture Exchange in Canada and employs 24 people. The company currently falls under 'Micro-Cap' category with a current market capitalization of 50.14 M. Market capitalization usually refers to the total value of a company's stock within the entire market. To calculate Covalon Technologies's market, we take the total number of its shares issued and multiply it by Covalon Technologies's current market price. To manage market risk and economic uncertainty, many investors today build portfolios that are diversified across equities with different market capitalizations. However, as a general rule, conservative investors tend to hold large-cap stocks, and those looking for more risk prefer small-cap and mid-cap equities. Covalon Technologies classifies itself under Healthcare sector and is part of Biotechnology industry. The entity has 25.07 M outstanding shares of which 8.17 K shares are currently shorted by private and institutional investors with about 2.09 days to cover all short positions. Covalon Technologies has accumulated about 2.53 M in cash with (7.99 M) of positive cash flow from operations. This results in cash-per-share (CPS) ratio of 0.1.
Check Covalon Technologies Probability Of Bankruptcy
Covalon Technologies retains a total of 25.07 Million outstanding shares. Covalon Technologies retains significant amount of outstanding shares owned by insiders. An insider is usually defined as a CEO, other corporate executive, director, or institutional investor who own at least 10% of the company outstanding shares. Since such a large part of the company is owned by insiders, it is advisable to analyze if each of these insiders have been buying or selling the stock in recent months. Remember, it does not matter who owns the company or if the company is currently losing money. If the true value of the company is more than the market pays for it currently, you can still have a good investment opportunity.

Ownership Allocation

Check Covalon Ownership Details

Covalon Stock Price Odds Analysis

Depending on a normal probability distribution, the odds of Covalon Technologies jumping above the current price in 90 days from now is close to 99%. The Covalon Technologies probability density function shows the probability of Covalon Technologies stock to fall within a particular range of prices over 90 days. Assuming the 90 days horizon Covalon Technologies has a beta of -0.2435 suggesting as returns on benchmark increase, returns on holding Covalon Technologies are expected to decrease at a much lower rate. During the bear market, however, Covalon Technologies is likely to outperform the market. Additionally, the company has a negative alpha, implying that the risk taken by holding this instrument is not justified. Covalon Technologies is significantly underperforming NYSE Composite.
  Odds Below 2.0HorizonTargetOdds Above 2.0
0.54%90 days
Based on a normal probability distribution, the odds of Covalon Technologies to move above the current price in 90 days from now is close to 99 (This Covalon Technologies probability density function shows the probability of Covalon Stock to fall within a particular range of prices over 90 days) .

Covalon Technologies Risk Profiles

Investors will always prefer to have the highest possible return on investment while minimizing volatility. Covalon Technologies market risk premium is the additional return an investor will receive from holding Covalon Technologies long position in a well-diversified portfolio. The market premium is part of the Capital Asset Pricing Model (CAPM), which most analysts and investors use to calculate the acceptable rate of return on investment in Covalon Technologies. At the center of the CAPM is the concept of risk and reward, which is usually communicated by investors using alpha and beta measures. Although Covalon Technologies' alpha and beta are two of the key measurements used to evaluate Covalon Technologies' performance over the market, the standard measures of volatility play an important role as well.

Covalon Stock Against Markets

Picking the right benchmark for Covalon Technologies stock is fundamental to making educated investment choices. Many naive investors compare their positions with the S&P 500 or with the Nasdaq. But these benchmarks are not all-inclusive and generally should be used only for large-capitalization equities or stock offerings from large companies. When the price of a selected benchmark declines in a down market, there may be an uptick in Covalon Technologies stock price where buyers come in believing the asset is cheap. The opposite is true when the market is bullish; so, accurately picking the benchmark for Covalon Technologies is critical whether you are bullish or bearish towards Covalon Technologies at a given time.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Covalon Technologies without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Covalon Technologies Corporate Directors

Covalon Technologies corporate directors refer to members of a Covalon Technologies board of directors. The board of directors generally takes responsibility for the Covalon Technologies' affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Covalon Technologies' board members must vote for the resolution. The Covalon Technologies board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Elinor Caplan - DirectorProfile
Murray Miller - Independent DirectorProfile
John Hands - Senior Director - Global MarketingProfile
Gale Pollock - DirectorProfile

Invested in Covalon Technologies?

The danger of trading Covalon Technologies is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Covalon Technologies is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Covalon Technologies. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Covalon Technologies is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
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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 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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Please note, there is a significant difference between Covalon Technologies' value and its price as these two are different measures arrived at by different means. Investors typically determine Covalon Technologies value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Covalon Technologies' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.