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

Covestro AG (OTCMKTS:COVTY) was the target of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 3,600 shares, an increase of 140.0% from the January 31st total of 1,500 shares. Based on an average daily trading volume, of 13,300 shares, the short-interest ratio is presently 0.3 days.

Covestro Trading Down 1.5 %

OTCMKTS COVTY traded down $0.46 during trading hours on Friday, reaching $30.06. 14,850 shares of the company traded hands, compared to its average volume of 10,250. The stock has a market capitalization of $11.36 billion, a PE ratio of -40.07 and a beta of 1.17. Covestro has a 12 month low of $24.12 and a 12 month high of $32.60. The company has a 50 day moving average of $29.64 and a two-hundred day moving average of $30.34.

Covestro (OTCMKTS:COVTY) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.30). The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.95 billion. On average, equities research analysts anticipate 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.