Covestro AG (OTCMKTS:COVTY) Sees Large Drop in Short Interest

Covestro AG (OTCMKTS:COVTY) was the recipient of a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 4,000 shares, a decrease of 73.2% from the July 15th total of 14,900 shares. Based on an average daily volume of 12,500 shares, the days-to-cover ratio is presently 0.3 days.

Covestro Price Performance

OTCMKTS:COVTY traded down $0.13 during trading hours on Monday, hitting $29.26. 4,556 shares of the company traded hands, compared to its average volume of 31,820. Covestro has a twelve month low of $24.12 and a twelve month high of $31.76. The firm has a 50-day moving average of $28.77 and a 200 day moving average of $27.30.

Covestro (OTCMKTS:COVTY) last released its earnings results on Tuesday, July 30th. The company reported ($0.20) EPS for the quarter. The company had revenue of $3.97 billion for the quarter. Analysts anticipate that Covestro will post 0.23 earnings per share for the current year.

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.