Short Interest in Covestro AG Sponsored ADR (OTCMKTS:COVTY) Drops By 40.3%
by Mitch Edgeman · The Markets DailyCovestro AG Sponsored ADR (OTCMKTS:COVTY – Get Free Report) was the recipient of a significant drop in short interest in June. As of June 15th, there was short interest totaling 40 shares, a drop of 40.3% from the May 31st total of 67 shares. Based on an average daily trading volume, of 5,260 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.0% of the company’s shares are short sold.
Covestro Price Performance
Shares of COVTY opened at $34.08 on Friday. Covestro has a 52-week low of $31.62 and a 52-week high of $36.60. The company has a quick ratio of 0.88, a current ratio of 1.53 and a debt-to-equity ratio of 0.24. The stock has a fifty day simple moving average of $34.25 and a two-hundred day simple moving average of $34.53. The company has a market capitalization of $14.15 billion, a PE ratio of -13.47 and a beta of 0.91.
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.