Short Interest in Covestro AG (OTCMKTS:COVTY) Decreases By 60.9%

Covestro AG (OTCMKTS:COVTY) was the target of a large decrease in short interest in January. As of January 15th, there was short interest totalling 3,600 shares, a decrease of 60.9% from the December 31st 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.

Analyst Upgrades and Downgrades

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

Covestro Stock Down 0.7 %

COVTY stock traded down $0.20 during trading hours on Friday, hitting $29.45. The company’s stock had a trading volume of 8,146 shares, compared to its average volume of 13,525. The stock has a 50 day moving average price of $29.60 and a two-hundred day moving average price of $30.24. Covestro has a 12 month low of $24.12 and a 12 month high of $32.60. The company has a market capitalization of $11.13 billion, a PE ratio of -39.80 and a beta of 1.17.

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