Covestro AG (OTCMKTS:COVTY) Short Interest Down 72.0% in March

Covestro AG (OTCMKTS:COVTY) was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 700 shares, a drop of 72.0% from the February 28th total of 2,500 shares. Based on an average daily volume of 8,500 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the company’s stock are sold short.

Covestro Price Performance

Shares of COVTY stock traded down $0.01 on Friday, hitting $31.48. The company’s stock had a trading volume of 2,023 shares, compared to its average volume of 8,102. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of -41.97 and a beta of 1.17. Covestro has a fifty-two week low of $24.12 and a fifty-two week high of $32.60. The firm’s fifty day moving average price is $30.57 and its 200-day moving average price is $30.51.

Covestro (OTCMKTS:COVTY) last released its quarterly earnings results 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 firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.95 billion. 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.