Covestro AG (OTCMKTS:COVTY) Short Interest Update

Covestro AG (OTCMKTS:COVTY) was the target of a significant increase in short interest during the month of 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 daily trading volume, of 29,600 shares, the short-interest ratio is presently 0.3 days.

Covestro Price Performance

Shares of COVTY stock opened at $31.49 on Friday. Covestro has a 12-month low of $24.12 and a 12-month high of $32.60. The firm has a fifty day moving average of $30.98 and a 200-day moving average of $28.85.

Covestro (OTCMKTS:COVTY) last announced its quarterly earnings results on Tuesday, July 30th. The company reported ($0.20) earnings per share (EPS) for the quarter. The business had revenue of $3.97 billion during the quarter. Equities analysts predict that Covestro will post 0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on COVTY shares. Citigroup upgraded shares of Covestro to a “hold” rating in a report on Thursday, October 3rd. Barclays upgraded Covestro to a “hold” rating in a research report on Wednesday, October 9th.

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.