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

Covestro AG (OTCMKTS:COVTY) was the recipient of a significant 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 company’s stock are sold short. Based on an average trading volume of 8,500 shares, the days-to-cover ratio is presently 0.1 days.

Covestro Stock Down 0.0 %

Shares of COVTY traded down $0.01 during mid-day trading on Friday, hitting $31.48. 2,023 shares of the company’s stock were exchanged, compared to its average volume of 8,102. The stock has a market cap of $11.90 billion, a price-to-earnings ratio of -41.97 and a beta of 1.17. The firm has a fifty day moving average of $30.57 and a two-hundred day moving average of $30.51. Covestro has a twelve month low of $24.12 and a twelve month high of $32.60.

Covestro (OTCMKTS:COVTY) last posted 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 business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.95 billion. On average, equities analysts predict that Covestro will post 0.03 earnings per share 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.