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

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Barclays upgraded shares of Covestro to a “hold” rating in a report on Wednesday, October 9th. Citigroup raised shares of Covestro to a “hold” rating in a research note on Thursday, October 3rd.

Covestro Trading Down 0.4 %

Shares of Covestro stock traded down $0.11 during trading hours on Wednesday, reaching $29.33. The stock had a trading volume of 4,249 shares, compared to its average volume of 14,732. Covestro has a 1 year low of $24.12 and a 1 year high of $32.60. The firm has a market capitalization of $11.09 billion, a price-to-earnings ratio of -39.64 and a beta of 1.17. The firm has a 50 day simple moving average of $29.62 and a two-hundred day simple moving average of $30.25.

Covestro (OTCMKTS:COVTY) last posted its earnings results on Tuesday, October 29th. The company reported $0.09 EPS for the quarter. The company had revenue of $3.96 billion for the quarter. Sell-side analysts forecast that Covestro will post 0.03 EPS for the current 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.