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

Covestro AG (OTCMKTS:COVTY) was the target of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 3,600 shares, a growth of 140.0% from the January 31st total of 1,500 shares. Based on an average trading volume of 13,300 shares, the days-to-cover ratio is currently 0.3 days.

Covestro Trading Down 1.5 %

OTCMKTS:COVTY traded down $0.46 during mid-day trading on Friday, hitting $30.06. The stock had a trading volume of 14,850 shares, compared to its average volume of 10,250. The company has a market capitalization of $11.36 billion, a PE ratio of -40.07 and a beta of 1.17. The stock has a 50-day simple moving average of $29.64 and a two-hundred day simple moving average of $30.34. Covestro has a twelve month low of $24.12 and a twelve month high of $32.60.

Covestro (OTCMKTS:COVTY) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.30). The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.95 billion. Sell-side analysts predict that Covestro will post 0.03 EPS for the current fiscal year.

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.