Covestro AG Sponsored ADR (OTCMKTS:COVTY) Sees Significant Decline in Short Interest

Key Points

• Covestro AG saw a significant 50% decline in short interest in July, with only 300 shares sold short as of July 31st.
• The company reported a loss of $0.18 per share in its latest quarterly earnings, along with negative margins and return on equity.
• Covestro has a market cap of $13.26 billion and its stock has a 52-week price range between $28.48 and $35.97.

Covestro AG Sponsored ADR (OTCMKTS:COVTY - Get Free Report) saw a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 300 shares, adropof50.0% from the July 15th total of 600 shares. Based on an average daily volume of 11,200 shares, the days-to-cover ratio is currently 0.0 days. Currently,0.0% of the shares of the company are short sold. Currently,0.0% of the shares of the company are short sold. Based on an average daily volume of 11,200 shares, the days-to-cover ratio is currently 0.0 days.

Covestro Stock Performance

COVTY traded up $0.07 during mid-day trading on Wednesday, reaching $35.2150. 4,414 shares of the company traded hands, compared to its average volume of 5,072. The company's fifty day moving average price is $35.10 and its 200-day moving average price is $33.20. The stock has a market capitalization of $13.31 billion, a P/E ratio of -32.61 and a beta of 1.04. The company has a quick ratio of 0.71, a current ratio of 1.32 and a debt-to-equity ratio of 0.30. Covestro has a 52-week low of $28.48 and a 52-week high of $35.97.

Covestro (OTCMKTS:COVTY - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported ($0.18) earnings per share (EPS) for the quarter. Covestro had a negative return on equity of 5.68% and a negative net margin of 2.68%. On average, sell-side analysts expect that Covestro will post 0.03 EPS 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.