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

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

Covestro Price Performance

Shares of OTCMKTS:COVTY opened at $28.99 on Thursday. The firm has a market capitalization of $10.96 billion, a PE ratio of -39.17 and a beta of 1.17. The business has a 50 day simple moving average of $29.83 and a two-hundred day simple moving average of $30.27. Covestro has a 1 year low of $24.12 and a 1 year high of $32.60.

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

Analyst Ratings Changes

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

About Covestro

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.