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

Key Points

• Covestro AG experienced a significant increase in trading volume, with 15,269 shares exchanged, marking a 137% rise from the previous day's volume.
• The stock is currently trading at $34.27, slightly up from its previous closing of $33.97, while the company's market capitalization stands at $12.97 billion.
• Covestro reported a quarterly earnings per share (EPS) of ($0.18) with analysts expecting an EPS of 0.03 for the current year, reflecting ongoing challenges in profitability.

Shares of Covestro AG Sponsored ADR (OTCMKTS:COVTY - Get Free Report) saw strong trading volume on Tuesday . 15,269 shares were traded during trading, an increase of 137% from the previous session's volume of 6,448 shares.The stock last traded at $34.27 and had previously closed at $33.97.

Covestro Trading Up 1.0%

The business's 50 day simple moving average is $34.51 and its 200-day simple moving average is $33.92. The stock has a market capitalization of $12.97 billion, a P/E ratio of -31.76 and a beta of 0.97. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.32 and a quick ratio of 0.71.

Covestro (OTCMKTS:COVTY - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported ($0.18) EPS for the quarter. Covestro had a negative return on equity of 5.68% and a negative net margin of 2.68%. As a group, analysts forecast 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.

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