Short Interest in Continental AG (OTCMKTS:CTTAY) Drops By 66.5%

Key Points

• Short interest in Continental AG fell 66.5% to 28,847 shares as of August 31, representing about 0.0% of shares outstanding and a days-to-cover ratio of 0.6.
• Analyst sentiment was mixed, with four Buy ratings and five Holds; Continental’s consensus rating was Hold.
• The company’s latest quarterly results included $5.09 billion in revenue, above estimates, but adjusted EPS of $0.14 missed the $0.16 consensus forecast.

Continental AG (OTCMKTS:CTTAY - Get Free Report) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 28,847 shares, a decline of 66.5% from the August 15th total of 86,037 shares. Based on an average trading volume of 50,960 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.0% of the company's shares are sold short.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Kepler Capital Markets lowered Continental from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Continental in a report on Thursday, July 2nd. Oddo Bhf upgraded shares of Continental from a "neutral" rating to an "outperform" rating in a report on Thursday, September 3rd. Finally, Citigroup restated a "buy" rating on shares of Continental in a research note on Friday, June 12th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Continental presently has an average rating of "Hold".

Continental Price Performance

Shares of CTTAY opened at $8.10 on Friday. The stock has a market capitalization of $16.20 billion, a PE ratio of -27.00, a PEG ratio of 1.11 and a beta of 1.39. The company has a 50 day moving average price of $8.08 and a 200-day moving average price of $7.92. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.82 and a current ratio of 1.38. Continental has a fifty-two week low of $6.21 and a fifty-two week high of $9.00.

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

Continental Company Profile

Continental AG is a Germany-based technology company that develops products and systems for the automotive and transportation industries. Its activities include vehicle electronics, advanced driver assistance and automated driving technologies, software, connectivity solutions, braking systems, sensors, and other components designed to support vehicle safety, efficiency, and performance.

Through its Tires business, Continental manufactures passenger-car, commercial-vehicle, specialty, and two-wheel tires, along with related services and digital tire-management solutions.

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