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 December. As of December 31st, there was short interest totalling 3,600 shares, a decrease of 60.9% from the December 15th total of 9,200 shares. Based on an average trading volume of 25,100 shares, the short-interest ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on COVTY shares. Barclays upgraded 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 Price Performance

Shares of COVTY opened at $28.84 on Tuesday. Covestro has a 1-year low of $24.12 and a 1-year high of $32.60. The stock has a market cap of $10.90 billion, a price-to-earnings ratio of -38.97 and a beta of 1.17. The firm has a 50 day simple moving average of $29.93 and a 200-day simple moving average of $30.28.

Covestro (OTCMKTS:COVTY) last released its quarterly 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 for the quarter. On average, equities analysts expect that Covestro will post 0.03 earnings per share 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.