Short Interest in Covestro AG (OTCMKTS:COVTY) Increases By 800.0%

Covestro AG (OTCMKTS:COVTY) saw a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 8,100 shares, an increase of 800.0% from the November 15th total of 900 shares. Based on an average daily trading volume, of 20,600 shares, the short-interest ratio is presently 0.4 days.

Wall Street Analysts Forecast Growth

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

Covestro Trading Down 0.1 %

Shares of COVTY stock traded down $0.02 during trading on Wednesday, hitting $30.46. The company’s stock had a trading volume of 2,854 shares, compared to its average volume of 24,877. The company has a market cap of $11.51 billion, a PE ratio of -41.16 and a beta of 1.17. The business has a fifty day moving average of $31.01 and a 200-day moving average of $29.90. Covestro has a 52 week low of $24.12 and a 52 week high of $32.60.

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