Covestro (OTCMKTS:COVTY) Trading Up 0.3% – Here’s What Happened

Shares of Covestro AG (OTCMKTS:COVTY) shot up 0.3% during trading on Friday . The company traded as high as $30.20 and last traded at $30.09. 12,043 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 26,096 shares. The stock had previously closed at $30.01.

Wall Street Analysts Forecast Growth

COVTY has been the subject of a number of analyst reports. Citigroup raised shares of Covestro to a “hold” rating in a research report on Thursday, October 3rd. Barclays upgraded Covestro to a “hold” rating in a research note on Wednesday, October 9th.

Covestro Stock Up 0.3 %

The stock has a market capitalization of $11.37 billion, a price-to-earnings ratio of -40.66 and a beta of 1.18. The company’s fifty day simple moving average is $31.19 and its 200 day simple moving average is $29.37.

Covestro (OTCMKTS:COVTY) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.09 EPS for the quarter. The company had revenue of $3.96 billion during the quarter. As a group, analysts anticipate that Covestro AG 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.