Short Interest in Covestro AG (OTCMKTS:COVTY) Expands By 4,950.0%

Covestro AG (OTCMKTS:COVTY) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 10,100 shares, a growth 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 currently 0.3 days.

Wall Street Analyst Weigh In

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

Covestro Price Performance

COVTY stock opened at $31.34 on Friday. Covestro has a one year low of $24.12 and a one year high of $32.60. The company’s 50 day moving average price is $31.01 and its two-hundred day moving average price is $28.88.

Covestro (OTCMKTS:COVTY) last posted its quarterly earnings results on Tuesday, July 30th. The company reported ($0.20) earnings per share for the quarter. The business had revenue of $3.97 billion for the quarter. As a group, analysts anticipate 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.