Short Interest in Covestro AG (OTCMKTS:COVTY) Decreases By 72.0%

Covestro AG (OTCMKTS:COVTY - Get Free Report) was the target 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. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 8,500 shares, the days-to-cover ratio is presently 0.1 days.

Covestro Stock Performance

Shares of COVTY traded down $0.01 during mid-day trading on Monday, hitting $31.48. 2,023 shares of the stock were exchanged, compared to its average volume of 8,102. The company has a market cap 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. The firm has a 50-day moving average of $30.57 and a two-hundred day moving average of $30.51.

Covestro (OTCMKTS:COVTY - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.30). The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.95 billion. On average, sell-side analysts predict that Covestro will post 0.03 EPS 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.