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

Covestro AG (OTCMKTS:COVTY) was the target of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 900 shares, a decline of 89.7% from the October 31st total of 8,700 shares. Based on an average trading volume of 26,300 shares, the days-to-cover ratio is presently 0.0 days.

Analyst Ratings Changes

Several research firms have weighed in on COVTY. Barclays upgraded shares of Covestro to a “hold” rating in a research report on Wednesday, October 9th. Citigroup upgraded Covestro to a “hold” rating in a report on Thursday, October 3rd.

Covestro Stock Up 0.7 %

Shares of COVTY traded up $0.20 during trading hours on Friday, reaching $30.28. The company’s stock had a trading volume of 12,445 shares, compared to its average volume of 25,508. The company has a 50 day moving average of $31.07 and a two-hundred day moving average of $29.62. The firm has a market cap of $11.45 billion, a price-to-earnings ratio of -40.92 and a beta of 1.18. Covestro has a 1-year low of $24.12 and a 1-year high of $32.60.

Covestro (OTCMKTS:COVTY) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.09 earnings per share for the quarter. The company had revenue of $3.96 billion during the quarter. As a group, analysts forecast that Covestro will post 0.03 EPS 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.