Covestro AG (OTCMKTS:COVTY) Short Interest Update

Covestro AG (OTCMKTS:COVTY) was the target of a large increase in short interest in October. As of October 15th, there was short interest totalling 10,100 shares, an increase of 4,950.0% from the September 30th total of 200 shares. Based on an average trading volume of 29,600 shares, the short-interest ratio is currently 0.3 days.

Covestro Price Performance

Shares of OTCMKTS COVTY opened at $31.49 on Friday. Covestro has a 52-week low of $24.12 and a 52-week high of $32.60. The business has a fifty day moving average of $30.98 and a two-hundred day moving average of $28.85.

Covestro (OTCMKTS:COVTY) last announced its quarterly earnings results on Tuesday, July 30th. The company reported ($0.20) earnings per share (EPS) for the quarter. The company had revenue of $3.97 billion for the quarter. As a group, equities analysts forecast that Covestro will post 0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Citigroup raised shares of Covestro to a “hold” rating in a research report on Thursday, October 3rd. Barclays raised Covestro to a “hold” rating in a report on Wednesday, October 9th.

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.