Covestro AG (OTCMKTS:COVTY) Short Interest Update

Covestro AG (OTCMKTS:COVTY) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totalling 10,100 shares, an increase of 4,950.0% from the September 30th total of 200 shares. Based on an average trading volume of 29,600 shares, the days-to-cover ratio is currently 0.3 days.

Covestro Stock Performance

COVTY opened at $31.34 on Friday. The business has a 50 day moving average price of $31.01 and a 200 day moving average price of $28.87. Covestro has a twelve month low of $24.12 and a twelve month high of $32.60.

Covestro (OTCMKTS:COVTY) last issued its quarterly earnings data on Tuesday, July 30th. The company reported ($0.20) earnings per share for the quarter. The firm had revenue of $3.97 billion for the quarter. On average, research analysts expect that Covestro will post 0.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on COVTY. Citigroup raised shares of Covestro to a “hold” rating in a research note on Thursday, October 3rd. Barclays upgraded Covestro to a “hold” rating in a report on Wednesday, October 9th.

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.