Covalon Technologies Stock Probability of Future Stock Price Finishing Under 3.45
| COV Stock | CAD 3.65 0.05 1.35% |
Covalon |
Covalon Technologies Target Price Odds to finish below 3.45
The tendency of Covalon Stock price to converge on an average value over time is a known aspect in finance that investors have used since the beginning of the stock market for forecasting. However, many studies suggest that some traded equity instruments are consistently mispriced before traders' demand and supply correct the spread. One possible conclusion to this anomaly is that these stocks have additional risk, for which investors demand compensation in the form of extra returns.
| Current Price | Horizon | Target Price | Odds to drop to C$ 3.45 or more in 90 days |
| 3.65 | 90 days | 3.45 | about 61.49 |
Based on a normal probability distribution, the odds of Covalon Technologies to drop to C$ 3.45 or more in 90 days from now is about 61.49 (This Covalon Technologies probability density function shows the probability of Covalon Stock to fall within a particular range of prices over 90 days) . Probability of Covalon Technologies price to stay between C$ 3.45 and its current price of C$3.65 at the end of the 90-day period is about 23.36 .
Assuming the 90 days horizon Covalon Technologies has a beta of -0.66 suggesting as returns on the benchmark increase, returns on holding Covalon Technologies are expected to decrease at a much lower rate. During a bear market, however, Covalon Technologies is likely to outperform the market. Additionally Covalon Technologies has an alpha of 0.3145, implying that it can generate a 0.31 percent excess return over Dow Jones Industrial after adjusting for the inherited market risk (beta). Covalon Technologies Price Density |
| Price |
Predictive Modules for Covalon Technologies
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Covalon Technologies. Regardless of method or technology, however, to accurately forecast the stock market is more a matter of luck rather than a particular technique. Nevertheless, trying to predict the stock market accurately is still an essential part of the overall investment decision process. Using different forecasting techniques and comparing the results might improve your chances of accuracy even though unexpected events may often change the market sentiment and impact your forecasting results.Covalon Technologies Risk Indicators
For the most part, the last 10-20 years have been a very volatile time for the stock market. Covalon Technologies is not an exception. The market had few large corrections towards the Covalon Technologies' value, including both sudden drops in prices as well as massive rallies. These swings have made and broken many portfolios. An investor can limit the violent swings in their portfolio by implementing a hedging strategy designed to limit downside losses. If you hold Covalon Technologies, one way to have your portfolio be protected is to always look up for changing volatility and market elasticity of Covalon Technologies within the framework of very fundamental risk indicators.α | Alpha over Dow Jones | 0.31 | |
β | Beta against Dow Jones | -0.66 | |
σ | Overall volatility | 0.27 | |
Ir | Information ratio | 0.04 |
Covalon Technologies Alerts and Suggestions
In today's market, stock alerts give investors the competitive edge they need to time the market and increase returns. Checking the ongoing alerts of Covalon Technologies for significant developments is a great way to find new opportunities for your next move. Suggestions and notifications for Covalon Technologies can help investors quickly react to important events or material changes in technical or fundamental conditions and significant headlines that can affect investment decisions.| Covalon Technologies 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 49.0% of Covalon Technologies shares are held by company insiders |
Covalon Technologies Price Density Drivers
Market volatility will typically increase when nervous long traders begin to feel the short-sellers pressure to drive the market lower. The future price of Covalon Stock often depends not only on the future outlook of the current and potential Covalon Technologies' investors but also on the ongoing dynamics between investors with different trading styles. Because the market risk indicators may have small false signals, it is better to identify suitable times to hedge a portfolio using different long/short signals. Covalon Technologies' indicators that are reflective of the short sentiment are summarized in the table below.
| Common Stock Shares Outstanding | 24.9 M | |
| Cash And Short Term Investments | 8.8 M |
Covalon Technologies Technical Analysis
Covalon Technologies' future price can be derived by breaking down and analyzing its technical indicators over time. Covalon Stock technical analysis helps investors analyze different prices and returns patterns as well as diagnose historical swings to determine the real value of Covalon Technologies. In general, you should focus on analyzing Covalon Stock price patterns and their correlations with different microeconomic environments and drivers.
Covalon Technologies Predictive Forecast Models
Covalon Technologies' time-series forecasting models is one of many Covalon Technologies' stock analysis techniques aimed to predict future share value based on previously observed values. Time-series forecasting models are widely used for non-stationary data. Non-stationary data are called the data whose statistical properties, e.g., the mean and standard deviation, are not constant over time, but instead, these metrics vary over time. This non-stationary Covalon Technologies' historical data is usually called time series. Some empirical experimentation suggests that the statistical forecasting models outperform the models based exclusively on fundamental analysis to predict the direction of the stock market movement and maximize returns from investment trading.
Things to note about Covalon Technologies
Checking the ongoing alerts about Covalon Technologies for important developments is a great way to find new opportunities for your next move. Our 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 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 49.0% of Covalon Technologies shares are held by company insiders |
Additional 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.