Continental AG (OTCMKTS:CTTAY) Sees Significant Drop in Short Interest

Continental AG (OTCMKTS:CTTAY) saw a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 6,662 shares, a decline of 93.0% from the June 15th total of 94,768 shares. Based on an average daily volume of 104,360 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are sold short.

Continental Trading Up 0.9%

Shares of OTCMKTS CTTAY traded up $0.07 during trading on Friday, hitting $8.29. 19,888 shares of the company were exchanged, compared to its average volume of 81,768. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.82 and a current ratio of 1.25. Continental has a 12-month low of $6.21 and a 12-month high of $9.16. The company has a fifty day moving average price of $8.17 and a 200-day moving average price of $7.94. The firm has a market capitalization of $16.58 billion, a PE ratio of -51.81, a P/E/G ratio of 0.67 and a beta of 1.38.

Continental (OTCMKTS:CTTAY) last issued its earnings results on Wednesday, May 6th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). Continental had a negative return on equity of 4.89% and a net margin of 0.19%.The firm had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.07 billion. As a group, equities research analysts expect that Continental will post 0.8 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on CTTAY. Kepler Capital Markets downgraded shares of Continental from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Continental in a report on Thursday, July 2nd. Finally, Citigroup restated a “buy” rating on shares of Continental in a report on Friday, June 12th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

About Continental

Continental AG, trading on the OTC market under the ticker CTTAY, is a global technology company renowned for its wide range of automotive and industrial products. The company’s core businesses include the design, development, and manufacturing of tires for passenger cars, commercial trucks, and specialty applications, as well as advanced automotive systems such as braking solutions, vehicle stability controls, sensors and electronic safety devices.

Founded in 1871 and headquartered in Hanover, Germany, Continental began as a rubber manufacturer before pioneering pneumatic tires in the late 19th century.