Covestro AG (OTCMKTS:COVTY) Short Interest Down 60.9% in January

Covestro AG (OTCMKTS:COVTY) was the recipient of a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 3,600 shares, a decline of 60.9% from the December 31st total of 9,200 shares. Based on an average trading volume of 25,100 shares, the short-interest ratio is currently 0.1 days.

Analysts Set New Price Targets

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

Covestro Trading Down 0.7 %

Shares of COVTY stock traded down $0.20 on Friday, hitting $29.45. 8,146 shares of the stock were exchanged, compared to its average volume of 13,525. The firm has a market capitalization of $11.13 billion, a P/E ratio of -39.80 and a beta of 1.17. The business has a 50-day moving average of $29.60 and a 200 day moving average of $30.24. Covestro has a fifty-two week low of $24.12 and a fifty-two week high of $32.60.

Covestro (OTCMKTS:COVTY) last released its earnings results on Tuesday, October 29th. The company reported $0.09 earnings per share (EPS) for the quarter. The company had revenue of $3.96 billion for the quarter. As a group, research 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.