Covalon Technologies Stock Buy Hold or Sell Recommendation
| COV Stock | CAD 3.45 0.27 7.26% |
Assuming the 90 days horizon and your above-average risk tolerance, our recommendation regarding Covalon Technologies is 'Hold'. A buy or sell recommendation provided by Macroaxis is an automated directive regarding whether to purchase or sell Covalon Technologies given historical horizon and risk tolerance towards Covalon Technologies. When Macroaxis issues a 'buy' or 'sell' recommendation for Covalon Technologies, the advice is generated through an automated system that utilizes algorithms and statistical models.
Check out Covalon Technologies Analyst Recommendation to compare Macroaxis Buy or Sell Recommendation with the current analyst consensus. To check ratings for multiple equity instruments, please use the Instant Ratings tool. Note, we conduct extensive research on individual companies such as Covalon and provide practical buy, sell, or hold advice based on investors' constraints. Covalon Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
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Execute Covalon Technologies Buy or Sell Advice
The Covalon recommendation should be used to complement the buy-or-sell advice compiled from the current analysts' consensus on Covalon Technologies. Macroaxis does not own or have any residual interests in Covalon Technologies or other equities on which the buy-or-sell advice is provided. Please provide your input below to execute Covalon Technologies' advice using the current market data and latest reported fundamentals.
Time Horizon
Risk Tolerance
 |  |
Hold
Market Performance | OK | Details | |
Volatility | Moderately volatile | Details | |
Hype Condition | Stale | Details | |
Current Valuation | Fairly Valued | Details | |
Odds Of Distress | Low | Details | |
Economic Sensitivity | Barely shadows the market | Details | |
Analyst Consensus | Not Available | Details | |
Reporting Quality (M-Score) | Inapplicable | Details |
Covalon Technologies Trading Alerts and Improvement Suggestions
| 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 Returns Distribution Density
The distribution of Covalon Technologies' historical returns is an attempt to chart the uncertainty of Covalon Technologies' future price movements. The chart of the probability distribution of Covalon Technologies daily returns describes the distribution of returns around its average expected value. We use Covalon Technologies price's Value At Risk and its Upside Potential as a relative measure of the distribution. The graph of the distribution of Covalon Technologies returns is essential to provide solid investment advice for Covalon Technologies.
| Mean Return | 0.33 | Value At Risk | -3.17 | Potential Upside | 6.30 | Standard Deviation | 2.71 |
Return Density |
| Distribution |
Investment risk management requires an estimate of the probability of extreme price changes. Therefore, the correct representation of the distribution of Covalon Technologies historical returns presented in an easy-to-digest graphical form helps investors and money managers understand the risk-reward trade-off of different investement strategies.
Covalon Technologies Cash Flow Accounts
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Change To Inventory | 1.4M | 2.2M | (63.4K) | (1.0M) | (939.2K) | (892.3K) | |
| Change In Cash | (6.1M) | 19.4M | (8.9M) | (5.3M) | (4.7M) | (4.5M) | |
| Free Cash Flow | (4.4M) | 443.7K | (9.1M) | (4.5M) | (4.1M) | (3.8M) | |
| Depreciation | 1.2M | 700.5K | 1.0M | 969.4K | 1.1M | 1.2M | |
| Other Non Cash Items | 860.2K | 419.4K | 110.8K | 66.2K | 59.6K | 56.6K | |
| Capital Expenditures | 371.1K | 177.7K | 1.1M | 1.3M | 1.5M | 1.6M | |
| Net Income | (7.0M) | 419.0K | (9.3M) | (4.5M) | (4.0M) | (4.2M) | |
| End Period Cash Flow | 3.5M | 22.9M | 14.1M | 8.8M | 10.1M | 6.3M | |
| Investments | (370.4K) | (278.5K) | (843.0K) | (1.5M) | (1.3M) | (1.4M) | |
| Change To Netincome | 2.6M | 2.2M | (22.8M) | 335.5K | 301.9K | 317.0K | |
| Net Borrowings | 6.9M | (1.1M) | (8.0M) | (585.2K) | (526.7K) | (500.3K) |
Covalon Technologies Greeks
Most traded equities are subject to two types of risk - systematic (i.e., market) and unsystematic (i.e., nonmarket or company-specific) risk. Unsystematic risk is the risk that events specific to Covalon Technologies or Biotechnology sector will adversely affect the stock's price. This type of risk can be diversified away by owning several different stocks in different industries whose stock prices have shown a small correlation to each other. On the other hand, systematic risk is the risk that Covalon Technologies' price will be affected by overall stock market movements and cannot be diversified away. So, no matter how many positions you have, you cannot eliminate market risk. However, you can measure a Covalon stock's historical response to market movements and buy it if you are comfortable with its volatility direction. Beta and standard deviation are two commonly used measures to help you make the right decision.
α | Alpha over Dow Jones | 0.30 | |
β | Beta against Dow Jones | 0.12 | |
σ | Overall volatility | 2.91 | |
Ir | Information ratio | 0.07 |
Covalon Technologies Volatility Alert
Covalon Technologies currently demonstrates below-average downside deviation. It has Information Ratio of 0.07 and Jensen Alpha of 0.3. Understanding different market volatility trends often help investors to time the market. Properly using volatility indicators enable traders to measure Covalon Technologies' stock risk against market volatility during both bullish and bearish trends. The higher level of volatility that comes with bear markets can directly impact Covalon Technologies' stock price while adding stress to investors as they watch their shares' value plummet. This usually forces investors to rebalance their portfolios by buying different financial instruments as prices fall.Covalon Technologies Fundamentals Vs Peers
Comparing Covalon Technologies' fundamentals to the average values of its peers is one of the most widely used and accepted methods of equity analyses. It helps to analyze Covalon Technologies' direct or indirect competition across all of the common fundamentals between Covalon Technologies and the related equities. This way, we can detect undervalued stocks with similar characteristics as Covalon Technologies or determine the stocks which would be an excellent addition to an existing portfolio. Peer analysis of Covalon Technologies' fundamental indicators could also be used in its relative valuation, which is a method of valuing Covalon Technologies by comparing valuation metrics with those of similar companies.
| Better Than Average | Worse Than Average | Compare Covalon Technologies to competition |
| Fundamentals | Covalon Technologies | Peer Average |
| Return On Equity | -0.0385 | -0.31 |
| Return On Asset | -0.0325 | -0.14 |
| Profit Margin | (0.03) % | (1.27) % |
| Operating Margin | 0.16 % | (5.51) % |
| Current Valuation | 93.59 M | 16.62 B |
| Shares Outstanding | 27.4 M | 571.82 M |
| Shares Owned By Insiders | 48.69 % | 10.09 % |
| Number Of Shares Shorted | 1.89 K | 4.71 M |
| Price To Earning | 69.86 X | 28.72 X |
| Price To Book | 4.70 X | 9.51 X |
| Price To Sales | 3.49 X | 11.42 X |
| Revenue | 26.6 M | 9.43 B |
| Gross Profit | 7.49 M | 27.38 B |
| EBITDA | (3.56 M) | 3.9 B |
| Net Income | (4.46 M) | 570.98 M |
| Cash And Equivalents | 2.53 M | 2.7 B |
| Cash Per Share | 0.10 X | 5.01 X |
| Total Debt | 1.56 M | 5.32 B |
| Debt To Equity | 2.49 % | 48.70 % |
| Current Ratio | 0.63 X | 2.16 X |
| Book Value Per Share | 0.88 X | 1.93 K |
| Cash Flow From Operations | (3.18 M) | 971.22 M |
| Short Ratio | 0.07 X | 4.00 X |
| Earnings Per Share | (0.04) X | 3.12 X |
| Target Price | 8.0 | |
| Beta | 0.62 | -0.15 |
| Market Capitalization | 101.92 M | 19.03 B |
| Total Asset | 24.9 M | 29.47 B |
| Retained Earnings | (38.37 M) | 9.33 B |
| Working Capital | 16.1 M | 1.48 B |
| Net Asset | 24.9 M |
Covalon Technologies Market Momentum
Traders often use several daily momentume indicators to supplement a more traditional technical analysis when analyzing securities such as Covalon . With many different options, investors must choose the best indicators for them and familiarize themselves with how they work. We suggest combining traditional momentum indicators with more near-term forms of technical analysis such as Accumulation Distribution or Daily Balance Of Power. With their quantitative nature, daily value technical indicators can also be incorporated into your automated trading systems.
| Accumulation Distribution | 2750.64 | |||
| Daily Balance Of Power | (0.90) | |||
| Rate Of Daily Change | 0.93 | |||
| Day Median Price | 3.6 | |||
| Day Typical Price | 3.55 | |||
| Price Action Indicator | (0.28) | |||
| Period Momentum Indicator | (0.27) |
About Covalon Technologies Buy or Sell Advice
When is the right time to buy or sell Covalon Technologies? Buying financial instruments such as Covalon Stock isn't very hard. However, what challenging for most investors is doing it at the right time to beat the market. Proper market timing is something most people cannot do without sophisticated tools, which help to isolate the right opportunities. Macroaxis provides hands-on modules to deliver winning trades and diversify your portfolios on a daily basis. Most of our advising modules are very easy to use and apply.
Please read more on our stock advisor page.
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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.