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

Covestro AG (OTCMKTS:COVTY - Get Free Report) was the target of a large decrease in short interest in February. As of February 28th, there was short interest totalling 2,500 shares, a decrease of 30.6% from the February 13th total of 3,600 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily volume of 13,600 shares, the days-to-cover ratio is presently 0.2 days.

Covestro Stock Performance

COVTY stock traded down $0.06 during midday trading on Thursday, reaching $31.54. The stock had a trading volume of 2,923 shares, compared to its average volume of 8,561. The firm has a fifty day simple moving average of $30.21 and a two-hundred day simple moving average of $30.47. The stock has a market cap of $11.92 billion, a PE ratio of -42.05 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 - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported ($0.54) EPS for the quarter, missing analysts' consensus estimates 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, sell-side analysts predict 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.