Short Interest in Covestro AG (OTCMKTS:COVTY) Declines By 94.7%

Covestro AG (OTCMKTS:COVTY) saw a significant decrease in short interest in September. As of September 30th, there was short interest totalling 200 shares, a decrease of 94.7% from the September 15th total of 3,800 shares. Based on an average daily volume of 64,500 shares, the days-to-cover ratio is presently 0.0 days.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Barclays upgraded shares of Covestro to a “hold” rating in a research note on Wednesday. Citigroup raised Covestro to a “hold” rating in a research report on Thursday, October 3rd.

Covestro Stock Performance

COVTY stock traded up $0.09 during mid-day trading on Friday, reaching $31.87. 2,203 shares of the company’s stock were exchanged, compared to its average volume of 28,424. Covestro has a 12-month low of $24.12 and a 12-month high of $32.60. The stock’s 50 day moving average is $30.55 and its 200 day moving average is $28.59.

Covestro (OTCMKTS:COVTY) last issued its quarterly earnings results on Tuesday, July 30th. The company reported ($0.20) EPS for the quarter. The company had revenue of $3.97 billion during the quarter. Analysts expect that Covestro will post 0.03 EPS for the current fiscal year.

Covestro Company Profile

Covestro AG supplies high-tech polymer materials and application solutions. It operates in two segments, Performance Materials, and Solutions & Specialties. The Performance Materials segment develops, produces, and supplies high-performance materials, such as polyurethanes and polycarbonates, and base chemicals, which include diphenylmethane diisocyanate (MDI), toluylene diisocyanate, long-chain polyols, and polycarbonate resins for use in furniture and wood processing, construction, automotive, and transportation industries, as well as roof structures, insulation for buildings and refrigerators, mattresses, car seats, and other applications.