Covestro (OTCMKTS:COVTY) Shares Gap Down - Here's Why

Key Points

• Covestro shares gapped down from a previous close of $33.79 to an open of $32.63, reflecting a decline of approximately 4.5%.
• The company's quarterly earnings report indicated a loss of ($0.18) EPS, with a negative return on equity of 5.68% and a negative net margin of 2.68%.
• Covestro has a market cap of $12.20 billion and operates in high-tech polymer materials, serving various industries including construction and automotive.

Covestro AG Sponsored ADR (OTCMKTS:COVTY - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $33.79, but opened at $32.63. Covestro shares last traded at $32.72, with a volume of 1,686 shares traded.

Covestro Stock Performance

The stock has a 50-day moving average of $34.70 and a 200 day moving average of $33.84. The company has a current ratio of 1.32, a quick ratio of 0.71 and a debt-to-equity ratio of 0.30.

Covestro (OTCMKTS:COVTY - Get Free Report) last released 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%. Analysts forecast that Covestro AG Sponsored ADR will post 0.03 earnings per share for the current fiscal year.

Covestro Company Profile

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.