Covestro AG (OTCMKTS:COVTY) Sees Significant Decrease in Short Interest

Covestro AG (OTCMKTS:COVTY) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 700 shares, a decline of 72.0% from the February 28th total of 2,500 shares. Based on an average trading volume of 8,500 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the company are short sold.

Covestro Stock Down 0.0 %

COVTY stock traded down $0.01 during mid-day trading on Friday, reaching $31.48. 2,023 shares of the stock traded hands, compared to its average volume of 8,102. The business has a 50-day moving average of $30.57 and a two-hundred day moving average of $30.51. The firm has a market capitalization of $11.90 billion, a PE ratio of -41.97 and a beta of 1.17. Covestro has a 52 week low of $24.12 and a 52 week high of $32.60.

Covestro (OTCMKTS:COVTY) last announced its earnings results on Wednesday, February 26th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.30). The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.95 billion. On average, equities research analysts anticipate 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.