Short Interest in Covestro AG (OTCMKTS:COVTY) Declines By 13.9%

Covestro AG (OTCMKTS:COVTY) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 8,700 shares, a decline of 13.9% from the October 15th total of 10,100 shares. Based on an average daily volume of 7,200 shares, the days-to-cover ratio is currently 1.2 days.

Covestro Trading Up 0.3 %

OTCMKTS COVTY traded up $0.08 on Friday, reaching $30.09. 12,043 shares of the company were exchanged, compared to its average volume of 26,096. The business’s fifty day moving average price is $31.19 and its 200 day moving average price is $29.34. The stock has a market capitalization of $11.37 billion, a P/E ratio of -40.66 and a beta of 1.18. Covestro has a fifty-two week low of $24.12 and a fifty-two week high of $32.60.

Covestro (OTCMKTS:COVTY) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.09 earnings per share for the quarter. The firm had revenue of $3.96 billion for the quarter. Equities research analysts forecast that Covestro will post 0.03 earnings per share for the current year.

Analyst Ratings Changes

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

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.