Covestro (OTCMKTS:COVTY) Sees Large Volume Increase - Here's What Happened

Key Points

• Covestro AG experienced a remarkable increase in trading volume, with approximately 42,232 shares traded, reflecting a 659% rise from the previous session.
• The stock is currently priced at $32.73, slightly down from its previous close of $32.82, with a market cap of $12.79 billion.
• Covestro reported a quarterly earnings per share of (−$0.18) and anticipates a projected 0.03 EPS for the current year, indicating ongoing financial challenges.

Shares of Covestro AG Sponsored ADR (OTCMKTS:COVTY - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 42,232 shares were traded during trading, an increase of 659% from the previous session's volume of 5,563 shares.The stock last traded at $32.73 and had previously closed at $32.82.

Covestro Trading Up 3.1%

The business's fifty day simple moving average is $34.96 and its 200 day simple moving average is $33.64. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.32 and a quick ratio of 0.71. The stock has a market cap of $12.79 billion, a price-to-earnings ratio of -31.32 and a beta of 0.97.

Covestro (OTCMKTS:COVTY - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported ($0.18) earnings per share for the quarter. Covestro had a negative return on equity of 5.68% and a negative net margin of 2.68%. On average, research analysts predict that Covestro AG Sponsored ADR 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.