Covalon Technologies Stock Today

COV Stock  CAD 1.09  0.01  0.91%   

Performance

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Odds Of Distress

Less than 23

 
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Covalon Technologies is selling for under 1.09 as of the 26th of May 2024; that is -0.91 percent decrease since the beginning of the trading day. The stock's lowest day price was 1.02. Covalon Technologies has about a 23 % chance of experiencing some form of financial distress in the next two years of operation but has generated negative returns 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 6th of June 2022 and ending today, the 26th of May 2024. Click here to learn more.
Business Domain
Pharmaceuticals, Biotechnology & Life Sciences
Category
Healthcare
Classification
Health Care
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 24.67 M outstanding shares of which 3.04 K shares are currently shorted by private and institutional investors with about 0.01 days to cover all short positions. More on Covalon Technologies

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Covalon 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.
CEO DirectorBrent Ashton
Business ConcentrationBiotechnology, Pharmaceuticals, Biotechnology & Life Sciences, Health Care, Health Care, Biotechnology, Biotechnology, Healthcare (View all Sectors)
Covalon Technologies' financial strength is of vital concern to both outside investors and internal stakeholders. Efficiency and cost control are keys to Covalon Technologies' success, along with its ability to generate sufficient cash flow to pay bills, repay debt, and make a consistent year-to-year profit.
Financial leverage usually refers to the use of borrowed funds to amplify returns from an investment. In general, analyzing the relationship between debt to total assets helps investors to understand Covalon Technologies' financial leverage. It provides some insight into what part of Covalon Technologies' total assets is financed by creditors.
By using current balance sheet information, investors can analyze the liability, assets, and equity on Covalon Technologies' books and decide whether to invest or hold. Statistics such as return on equity (ROE), debt to equity (D/E) help investors determine how Covalon Technologies deploys its capital and how much of that capital is borrowed.
Liquidity
Covalon Technologies cash flow analysis is essential to understand how it generates and spends money over a specific period. It can also help you figure out where your money is going and how much cash you have available at a given moment. 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.

Total Cash From Operating Activities

(3.01 Million)
Covalon Technologies (COV) is traded on TSX Venture Exchange in Canada and employs 28 people. Covalon Technologies is listed under Biotechnology category by Fama And French industry classification. The company currently falls under 'Micro-Cap' category with a current market capitalization of 26.89 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 Biotechnology sector and is part of Health Care industry. The entity has 24.67 M outstanding shares of which 3.04 K shares are currently shorted by private and institutional investors with about 0.01 days to cover all short positions. 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.
Check Covalon Technologies Probability Of Bankruptcy
Ownership Allocation
Covalon Technologies holds a total of 24.67 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's 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. Please note that no matter how many assets the company secures, if the real value of the firm is less than the current market value, you may not be able to make money on it.
Check Covalon Ownership Details

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. Please also check how Covalon Technologies' historical prices are related to one of the top price index indicators.

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.
John HandsSenior Director - Global MarketingProfile
Ian BrindleIndependent DirectorProfile
Joseph CordianoIndependent DirectorProfile
Ronald SmithDirectorProfile

How to buy Covalon Stock?

Before investing in Covalon Technologies, you must ensure you fully understand your financial goals and how diversified (or not) your overall investments are now. Then, after you clearly understand your investment objectives, consider investing in Covalon Technologies. To buy Covalon Technologies stock, you can follow these steps:
  • Choose a brokerage firm: You need to select a brokerage firm to buy shares of Covalon Technologies. Some popular options include Charles Schwab, Fidelity, TD Ameritrade, and Robinhood.
  • Open an account: Once you have chosen a brokerage firm, you will need to open an account. You will be required to provide personal information, such as your name, address, and Social Security number.
  • Fund your account: You will need to deposit funds into your brokerage account to purchase Covalon Technologies stock. You can do this by transferring funds from your bank account or other investment accounts.
  • Place your order: Once you have located Covalon Technologies stock in your brokerage account, you can place your order to buy it. You will need to specify the number of shares you want to buy and the price you are willing to pay.
  • Monitor your investment: After you have purchased Covalon Technologies stock, you should monitor your investment to track its performance and make informed decisions about buying, selling, or holding the stock
It's important to note that investing in stocks, such as Covalon Technologies, carries risks, and you should carefully consider your investment goals and risk tolerance before making any investment decisions. Also, remember various factors, including economic indicators, change in net worth, political events, company-specific news, and investor sentiment, can influence the stock market. These factors can cause fluctuations in stock prices and lead to market volatility affecting your buy or sell decision. However, volatility can also present opportunities for investors to make gains by buying stocks when prices are low and selling when they are high. It's important for investors to have a long-term perspective and a well-diversified portfolio to manage the impact of stock market volatility on their investments.

Already 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 Sharpe 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.
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.

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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 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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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 if Covalon Technologies is a good investment 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.