Covestro AG (OTCMKTS:COVTY) Short Interest Down 60.9% in January

Covestro AG (OTCMKTS:COVTY) was the recipient of a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 3,600 shares, a drop of 60.9% from the December 31st total of 9,200 shares. Based on an average daily trading volume, of 25,100 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analyst Weigh In

COVTY has been the topic of a number of research analyst reports. Barclays raised Covestro to a “hold” rating in a report on Wednesday, October 9th. Citigroup raised Covestro to a “hold” rating in a report on Thursday, October 3rd.

Covestro Stock Performance

Shares of OTCMKTS:COVTY traded down $0.20 during trading on Friday, hitting $29.45. 8,146 shares of the stock were exchanged, compared to its average volume of 13,525. Covestro has a 1-year low of $24.12 and a 1-year high of $32.60. The company has a market capitalization of $11.13 billion, a price-to-earnings ratio of -39.80 and a beta of 1.17. The company’s fifty day simple moving average is $29.60 and its 200-day simple moving average is $30.24.

Covestro (OTCMKTS:COVTY) last posted its earnings results on Tuesday, October 29th. The company reported $0.09 EPS for the quarter. The company had revenue of $3.96 billion for the quarter. On average, research analysts forecast that Covestro will post 0.03 earnings per share for the current fiscal 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.