Short Interest in Covestro AG (OTCMKTS:COVTY) Increases By 800.0%

Covestro AG (OTCMKTS:COVTY) was the recipient of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 8,100 shares, an increase of 800.0% from the November 15th total of 900 shares. Based on an average daily volume of 20,600 shares, the short-interest ratio is presently 0.4 days.

Analyst Upgrades and Downgrades

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

Covestro Stock Performance

Covestro stock traded down $0.02 during mid-day trading on Wednesday, hitting $30.46. 2,854 shares of the company traded hands, compared to its average volume of 24,877. Covestro has a one year low of $24.12 and a one year high of $32.60. The stock has a market cap of $11.51 billion, a price-to-earnings ratio of -41.16 and a beta of 1.17. The stock has a fifty day moving average price of $31.01 and a 200-day moving average price of $29.90.

Covestro (OTCMKTS:COVTY) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.09 earnings per share (EPS) for the quarter. The company had revenue of $3.96 billion for the quarter. Sell-side analysts predict that Covestro will post 0.03 EPS for the current year.

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.