Covestro AG Sponsored ADR (OTCMKTS:COVTY) Short Interest Up 505.0% in May

Covestro AG Sponsored ADR (OTCMKTS:COVTY) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 242 shares, a growth of 505.0% from the April 30th total of 40 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 3,758 shares, the short-interest ratio is currently 0.1 days.

Covestro Stock Performance

Shares of COVTY traded down $0.71 during trading hours on Friday, reaching $34.21. 553 shares of the company traded hands, compared to its average volume of 4,228. The stock’s fifty day moving average is $34.31 and its 200 day moving average is $34.62. The stock has a market cap of $14.21 billion, a P/E ratio of -13.52 and a beta of 0.91. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.88 and a current ratio of 1.53. Covestro has a 1-year low of $31.62 and a 1-year high of $36.60.

Covestro (OTCMKTS:COVTY) last posted its earnings results on Thursday, February 26th. The company reported ($1.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($1.67). The business had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.42 billion. Covestro had a negative net margin of 6.97% and a negative return on equity of 13.22%.

Covestro Company Profile

Covestro AG is a leading global manufacturer of high-performance polymer materials. Established in 2015 following its spin-off from Bayer MaterialScience, the company builds on a legacy of innovation dating back to the early 20th century. Covestro develops and produces a wide range of plastics and coatings designed to meet the evolving needs of various industrial sectors.

The company’s core product portfolio includes polyurethanes, polycarbonates and specialty coatings, adhesives, sealants and elastomers.