Continental AG (OTCMKTS:CTTAY) Sees Large Increase in Short Interest

Continental AG (OTCMKTS:CTTAY) was the recipient of a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 86,037 shares, an increase of 97.0% from the July 30th total of 43,678 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average trading volume of 56,252 shares, the short-interest ratio is currently 1.5 days.

Continental Stock Up 2.1%

Shares of CTTAY opened at $8.20 on Tuesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.82 and a current ratio of 1.25. The company has a 50-day simple moving average of $8.12 and a 200-day simple moving average of $7.95. Continental has a 52 week low of $6.21 and a 52 week high of $9.00. The firm has a market capitalization of $16.40 billion, a P/E ratio of -27.33, a P/E/G ratio of 1.10 and a beta of 1.39.

Continental (OTCMKTS:CTTAY) last announced 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). Continental had a negative return on equity of 10.93% and a negative net margin of 1.36%.The firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.03 billion. On average, equities research analysts expect that Continental will post 0.67 earnings per share for the current year.

Wall Street Analyst Weigh In

CTTAY has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Continental in a report on Thursday, July 2nd. Kepler Capital Markets downgraded Continental from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Citigroup reaffirmed a “buy” rating on shares of Continental in a report on Friday, June 12th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

About Continental

Continental AG, trading on the OTC market under the ticker CTTAY, is a global technology company renowned for its wide range of automotive and industrial products. The company’s core businesses include the design, development, and manufacturing of tires for passenger cars, commercial trucks, and specialty applications, as well as advanced automotive systems such as braking solutions, vehicle stability controls, sensors and electronic safety devices.

Founded in 1871 and headquartered in Hanover, Germany, Continental began as a rubber manufacturer before pioneering pneumatic tires in the late 19th century.