Covestro AG (OTCMKTS:COVTY) Short Interest Update

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

Covestro Stock Performance

COVTY traded up $0.04 during trading on Wednesday, reaching $28.99. The company’s stock had a trading volume of 7,535 shares, compared to its average volume of 19,537. The company’s fifty day moving average price is $29.87 and its 200-day moving average price is $30.28. The company has a market capitalization of $10.96 billion, a price-to-earnings ratio of -39.17 and a beta of 1.17. Covestro has a 52-week low of $24.12 and a 52-week high of $32.60.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on COVTY. Citigroup upgraded shares of Covestro to a “hold” rating in a research report on Thursday, October 3rd. Barclays upgraded shares of Covestro to a “hold” rating in a research note on Wednesday, October 9th.

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.