Covestro AG (OTCMKTS:COVTY) Short Interest Update

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

Covestro Stock Performance

Shares of OTCMKTS COVTY traded up $0.20 during mid-day trading on Wednesday, reaching $30.28. 12,445 shares of the company traded hands, compared to its average volume of 25,508. Covestro has a fifty-two week low of $24.12 and a fifty-two week high of $32.60. The company’s fifty day moving average is $31.08 and its two-hundred day moving average is $29.61. The stock has a market cap of $11.45 billion, a PE ratio of -40.65 and a beta of 1.18.

Covestro (OTCMKTS:COVTY) last released its earnings results 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. Research analysts forecast that Covestro will post 0.03 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.