Short Interest in Covestro AG Sponsored ADR (OTCMKTS:COVTY) Decreases By 83.1%

Key Points

• Covestro AG experienced a significant decrease in short interest of 83.1% from 14,800 shares in August to 2,500 shares by September 15th.
• The company's stock shows a market capitalization of $12.86 billion with a current stock price of $34.01.
• Covestro reported an earnings per share (EPS) of ($0.18) for the last quarter and analysts predict a slight recovery with an EPS of 0.03 for the current year.

Covestro AG Sponsored ADR (OTCMKTS:COVTY - Get Free Report) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 2,500 shares, a drop of 83.1% from the August 31st total of 14,800 shares. Based on an average daily volume of 39,400 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 39,400 shares, the days-to-cover ratio is presently 0.1 days.

Covestro Trading Up 0.1%

Shares of OTCMKTS:COVTY opened at $34.01 on Wednesday. Covestro has a 52-week low of $28.48 and a 52-week high of $35.97. The stock has a market cap of $12.86 billion, a price-to-earnings ratio of -31.49 and a beta of 0.97. The company has a quick ratio of 0.71, a current ratio of 1.32 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $34.48 and a 200-day moving average price of $33.92.

Covestro (OTCMKTS:COVTY - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported ($0.18) earnings per share (EPS) for the quarter. Covestro had a negative return on equity of 5.68% and a negative net margin of 2.68%. Equities analysts predict that Covestro will post 0.03 EPS for the current 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.

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