Velan (TSE:VLN) Reaches New 1-Year High - Time to Buy?

Velan Inc. (TSE:VLN - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$10.95 and last traded at C$10.85, with a volume of 55772 shares trading hands. The stock had previously closed at C$10.50.

The company has a market cap of C$66.22 million, a P/E ratio of -13.75 and a beta of 0.77. The company has a quick ratio of 1.11, a current ratio of 2.55 and a debt-to-equity ratio of 21.02. The firm's 50-day moving average price is C$7.16 and its 200-day moving average price is C$6.38.

Velan (TSE:VLN - Get Free Report) last issued its earnings results on Thursday, October 10th. The company reported C$0.01 earnings per share (EPS) for the quarter. Velan had a negative net margin of 2.75% and a negative return on equity of 5.57%. The business had revenue of C$135.12 million for the quarter.

Velan Inc designs, manufactures, and markets industrial valves worldwide. The company offers quarter-turn valves, such as ball, high performance three-piece ball, general purpose ball, metal-seated ball, triple-offset, high performance cryogenic butterfly, coker ball, and cap-tight batch digester capping valves; and gate, globe, and check valves, including pressure seal, bolted bonnet high pressure, cast steel, cast stainless steel corrosion resistant, small forged, bonnetless, and dual-plate check valves, as well as maintenance valves for nuclear service.

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