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

Covestro AG (OTCMKTS:COVTY) saw a significant decline in short interest in 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 daily volume of 25,100 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analyst Weigh In

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

Covestro Price Performance

Shares of Covestro stock traded down $0.20 on Friday, hitting $29.45. 8,146 shares of the company’s stock traded hands, compared to its average volume of 13,525. The firm’s 50-day moving average price is $29.60 and its two-hundred day moving average price is $30.24. The stock has a market capitalization of $11.13 billion, a PE ratio of -39.80 and a beta of 1.17. Covestro has a one year low of $24.12 and a one year high of $32.60.

Covestro (OTCMKTS:COVTY) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.09 EPS for the quarter. The company had revenue of $3.96 billion during the quarter. On average, analysts forecast 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.