Continental AG (OTCMKTS:CTTAY) Shares Shorted: Short Interest Down 37.1% in October

Key Points

• Short interest in Continental fell 37.1% to 54,276 shares as of October 15, down from 86,252 shares at the end of September. Short interest represents 0.0% of shares outstanding, with a days-to-cover ratio of 0.5.
• Continental shares rose 2.5% to $7.62, while trading below their 50-day and 200-day moving averages. The stock has traded between $6.61 and $8.97 over the past year.
• Analysts maintain a “Moderate Buy” consensus, with five Buy ratings and four Holds; however, the company’s latest quarterly earnings missed estimates, reporting $0.14 per share versus the $0.16 consensus.

Continental AG (OTCMKTS:CTTAY - Get Free Report) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 54,276 shares, a drop of 37.1% from the September 30th total of 86,252 shares. Based on an average daily volume of 102,024 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.0% of the shares of the stock are sold short.

Continental Trading Up 2.5%

CTTAY traded up $0.18 during trading on Monday, hitting $7.62. 16,164 shares of the stock were exchanged, compared to its average volume of 62,409. The firm has a 50 day simple moving average of $7.88 and a 200 day simple moving average of $7.93. The firm has a market cap of $15.25 billion, a price-to-earnings ratio of -25.41, a P/E/G ratio of 1.02 and a beta of 1.35. Continental has a 1 year low of $6.61 and a 1 year high of $8.97. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.06 and a current ratio of 1.38.

Continental (OTCMKTS:CTTAY - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). The business had revenue of $5.09 billion during the quarter, compared to analysts' expectations of $5.03 billion. Continental had a negative return on equity of 10.86% and a negative net margin of 1.36%. As a group, equities analysts expect that Continental will post 0.67 EPS for the current year.

Analysts Set New Price Targets

CTTAY has been the subject of several recent analyst reports. Oddo Bhf raised shares of Continental from a "neutral" rating to an "outperform" rating in a research note on Thursday, September 3rd. Kepler Capital Markets downgraded shares of Continental from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. Finally, Sanford C. Bernstein raised shares of Continental from a "market perform" rating to an "outperform" rating in a research report on Thursday, October 8th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy".

Continental Company Profile

Continental AG is a Germany-based technology and automotive supplier whose products and services support vehicle manufacturers, commercial transportation companies and industrial customers. The company develops vehicle systems and components, tires, and products made from rubber and other technical materials.

Its automotive activities include electronic systems, safety and motion-control technologies, software, displays, sensors and other components used in passenger vehicles and commercial vehicles.

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