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

Covestro AG (OTCMKTS:COVTY) was the target of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 500 shares, a decrease of 28.6% from the March 15th total of 700 shares. Based on an average daily trading volume, of 7,200 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the shares of the stock are short sold.

Covestro Stock Up 0.5 %

Shares of OTCMKTS COVTY opened at $33.35 on Friday. The stock has a market capitalization of $12.61 billion, a price-to-earnings ratio of -44.47 and a beta of 1.05. Covestro has a 52 week low of $24.12 and a 52 week high of $33.49. The firm has a 50-day simple moving average of $31.47 and a 200-day simple moving average of $30.69.

Covestro (OTCMKTS:COVTY) last released its earnings results on Wednesday, February 26th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.30). The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.95 billion. As a group, equities research analysts expect that Covestro will post 0.03 EPS for the current 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.