Covestro (OTCMKTS:COVTY) Sees Unusually-High Trading Volume - Here's Why

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.

Covestro AG Sponsored ADR (OTCMKTS:COVTY - Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 42,232 shares were traded during mid-day 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 Down 0.0%

The company's fifty day simple moving average is $34.86 and its two-hundred day simple moving average is $33.78. The company has a quick ratio of 0.71, a current ratio of 1.32 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $13.08 billion, a price-to-earnings ratio of -32.05 and a beta of 0.97.

Covestro (OTCMKTS:COVTY - Get Free Report) last posted its earnings results 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%. Research analysts forecast that Covestro AG Sponsored ADR 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.