Innovotech (CVE:IOT) Stock Price Up 21.9% – Should You Buy?

Innovotech Inc. (CVE:IOT) rose 21.9% during trading on Wednesday . The stock traded as high as C$0.20 and last traded at C$0.20. Approximately 152,075 shares changed hands during mid-day trading, an increase of 414% from the average daily volume of 29,562 shares. The stock had previously closed at C$0.16.

Innovotech Trading Up 21.9%

The firm has a market cap of C$10.14 million, a P/E ratio of 35.56 and a beta of 2.33. The business’s 50-day moving average is C$0.23 and its two-hundred day moving average is C$0.23. The company has a current ratio of 2.63, a quick ratio of 5.81 and a debt-to-equity ratio of 12.55.

About Innovotech

Innovotech Inc provides assay kits used in growing microbial biofilms for research purposes in Canada, the United States, and internationally. The company offers InnovoSIL, a silver periodate antimicrobial compounds for medical applications; MBEC Assay kit, a petri dish for biofilms, which are used for research and medical device testing of microbial biofilms; and AgreGuard, an antimicrobial for crop protection. It also provides antimicrobial contract research and antimicrobial testing; antimicrobial and anti-biofilm agents; antimicrobial and anti-biofilm materials; BEST assay testing; implanted medical devices; bacteriophage testing; and analytical services.