Covestro (OTCMKTS:COVTY) Sees Strong Trading Volume - Still a Buy?

Key Points

• Covestro AG's shares experienced a significant increase in trading volume, reaching 35,114 shares traded, which is a 418% rise compared to the previous session.
• The stock is currently priced at $34.48, down 1.7% from its previous close of $35.47, with a market capitalization of $13.18 billion.
• In its latest quarterly earnings report, Covestro posted a loss of ($0.18) earnings per share and has a forecasted EPS of 0.03 for the current fiscal year.

Shares of Covestro AG Sponsored ADR (OTCMKTS:COVTY - Get Free Report) saw an uptick in trading volume on Thursday . 35,114 shares were traded during mid-day trading, an increase of 418% from the previous session's volume of 6,781 shares.The stock last traded at $34.48 and had previously closed at $35.47.

Covestro Trading Down 1.7%

The company has a current ratio of 1.32, a quick ratio of 0.71 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $13.18 billion, a P/E ratio of -32.28 and a beta of 0.99. The business has a 50-day moving average price of $34.50 and a two-hundred day moving average price of $34.08.

Covestro (OTCMKTS:COVTY - Get Free Report) last announced 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, analysts expect that Covestro AG Sponsored ADR will post 0.03 EPS 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.

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