Short Interest in Covestro AG (OTCMKTS:COVTY) Declines By 89.7%

Covestro AG (OTCMKTS:COVTY) saw a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 900 shares, a decline of 89.7% from the October 31st total of 8,700 shares. Based on an average daily trading volume, of 26,300 shares, the short-interest ratio is presently 0.0 days.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Barclays upgraded Covestro to a “hold” rating in a report on Wednesday, October 9th. Citigroup upgraded shares of Covestro to a “hold” rating in a report on Thursday, October 3rd.

Covestro Trading Up 0.7 %

OTCMKTS COVTY traded up $0.20 on Friday, hitting $30.28. 12,445 shares of the company were exchanged, compared to its average volume of 25,508. The company has a market cap of $11.45 billion, a P/E ratio of -40.92 and a beta of 1.18. The firm has a 50 day moving average of $31.07 and a two-hundred day moving average of $29.62. Covestro has a 1-year low of $24.12 and a 1-year high of $32.60.

Covestro (OTCMKTS:COVTY) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.09 earnings per share (EPS) for the quarter. The business had revenue of $3.96 billion for the quarter. Research analysts anticipate that Covestro will post 0.03 EPS for the current fiscal 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.