Covestro (OTCMKTS:COVTY) Sees Strong Trading Volume – Here’s What Happened

Covestro AG Sponsored ADR (OTCMKTS:COVTY) shares saw unusually-strong trading volume on Tuesday . Approximately 24,835 shares were traded during trading, an increase of 231% from the previous session’s volume of 7,500 shares.The stock last traded at $35.2350 and had previously closed at $35.06.

Analyst Ratings Changes

Separately, Alembic Global Advisors lowered Covestro to a “hold” rating in a report on Monday, October 27th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Covestro Stock Down 0.8%

The firm has a market cap of $13.14 billion, a price-to-earnings ratio of -26.33 and a beta of 0.92. The firm’s 50 day moving average price is $34.65 and its two-hundred day moving average price is $34.68. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.36 and a quick ratio of 0.73.

Covestro (OTCMKTS:COVTY) last posted its quarterly earnings data on Thursday, October 30th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.02. Covestro had a negative return on equity of 7.04% and a negative net margin of 3.34%.The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.69 billion. As a group, sell-side analysts forecast that Covestro AG Sponsored ADR will post 0.03 earnings per share for the current fiscal year.

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.