Short Interest in Covestro AG (OTCMKTS:COVTY) Declines By 30.6%

Covestro AG (OTCMKTS:COVTY) was the recipient of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 2,500 shares, a drop of 30.6% from the February 13th total of 3,600 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 13,600 shares, the short-interest ratio is presently 0.2 days.

Covestro Stock Performance

COVTY stock opened at $31.74 on Tuesday. Covestro has a one year low of $24.12 and a one year high of $32.60. The firm has a market cap of $12.00 billion, a PE ratio of -42.32 and a beta of 1.17. The firm’s 50 day moving average price is $30.10 and its 200-day moving average price is $30.46.

Covestro (OTCMKTS:COVTY) last posted 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 business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.95 billion. Equities research 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.