Covestro AG (OTCMKTS:COVTY) Sees Significant Decrease in Short Interest

Covestro AG (OTCMKTS:COVTY) saw a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 3,600 shares, a decline of 60.9% from the December 31st total of 9,200 shares. Based on an average trading volume of 25,100 shares, the days-to-cover ratio is currently 0.1 days.

Covestro Trading Down 0.4 %

Shares of COVTY stock traded down $0.11 on Wednesday, hitting $29.33. The stock had a trading volume of 4,249 shares, compared to its average volume of 14,732. Covestro has a twelve month low of $24.12 and a twelve month high of $32.60. The company has a fifty day moving average price of $29.62 and a two-hundred day moving average price of $30.25. The firm has a market cap of $11.09 billion, a P/E ratio of -39.64 and a beta of 1.17.

Covestro (OTCMKTS:COVTY) last posted its earnings results on Tuesday, October 29th. The company reported $0.09 earnings per share (EPS) for the quarter. The business had revenue of $3.96 billion during the quarter. On average, analysts expect that Covestro will post 0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

COVTY has been the topic of a number of research reports. Barclays upgraded shares of Covestro to a “hold” rating in a research report on Wednesday, October 9th. Citigroup raised shares of Covestro to a “hold” rating in a research note on Thursday, October 3rd.

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.