Short Interest in Covestro AG (OTCMKTS:COVTY) Decreases By 79.4%

Covestro AG (OTCMKTS:COVTY) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 1,400 shares, a decrease of 79.4% from the August 15th total of 6,800 shares. Based on an average trading volume of 18,100 shares, the days-to-cover ratio is presently 0.1 days.

Covestro Price Performance

COVTY traded up $0.18 during midday trading on Friday, hitting $31.19. 4,530 shares of the company were exchanged, compared to its average volume of 28,654. The company’s 50 day simple moving average is $29.95 and its 200 day simple moving average is $27.98. Covestro has a 1-year low of $24.12 and a 1-year high of $31.76.

Covestro (OTCMKTS:COVTY) last posted its earnings results on Tuesday, July 30th. The company reported ($0.20) EPS for the quarter. The company had revenue of $3.97 billion during the quarter. Research analysts predict that Covestro will post 0.13 earnings per share 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.