Covestro AG (OTCMKTS:COVTY) Short Interest Down 94.7% in September

by · The Cerbat Gem

Covestro AG (OTCMKTS:COVTY – Get Free Report) was the target of a large drop in short interest in September. As of September 30th, there was short interest totalling 200 shares, a drop of 94.7% from the September 15th total of 3,800 shares. Based on an average trading volume of 64,500 shares, the short-interest ratio is currently 0.0 days.

Covestro Stock Up 0.3 %

Shares of Covestro stock traded up $0.09 on Friday, hitting $31.87. The stock had a trading volume of 2,203 shares, compared to its average volume of 28,424. The company’s 50 day moving average price is $30.55 and its 200 day moving average price is $28.59. Covestro has a 52-week low of $24.12 and a 52-week high of $32.60.

Covestro (OTCMKTS:COVTY – Get Free Report) last posted 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 during the quarter. Equities research analysts expect that Covestro will post 0.03 earnings per share for the current year.

Analyst Ratings Changes

COVTY has been the subject of several recent analyst reports. Citigroup upgraded shares of Covestro to a “hold” rating in a research report on Thursday, October 3rd. Barclays upgraded shares of Covestro to a “hold” rating in a research note on Wednesday.

Read Our Latest Report on COVTY

About Covestro

(Get Free Report)

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.

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