Covestro AG (OTCMKTS:COVTY) Short Interest Down 72.0% in March

Covestro AG (OTCMKTS:COVTY) was the recipient of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 700 shares, a drop of 72.0% from the February 28th total of 2,500 shares. Based on an average daily volume of 8,500 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are sold short.

Covestro Trading Down 0.6 %

OTCMKTS COVTY opened at $31.33 on Thursday. Covestro has a 1-year low of $24.12 and a 1-year high of $32.60. The company has a 50 day moving average of $30.47 and a 200-day moving average of $30.50. The firm has a market cap of $11.84 billion, a price-to-earnings ratio of -41.78 and a beta of 1.17.

Covestro (OTCMKTS:COVTY) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.30). The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.95 billion. On average, analysts forecast that Covestro will post 0.03 earnings per share for the current 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.