Covestro AG Sponsored ADR (OTCMKTS:COVTY) Sees Significant Drop in Short Interest

Covestro AG Sponsored ADR (OTCMKTS:COVTY) was the recipient of a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 67 shares, a decline of 72.3% from the May 14th total of 242 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 4,452 shares, the short-interest ratio is presently 0.0 days.

Covestro Trading Up 1.5%

OTCMKTS COVTY traded up $0.50 on Friday, hitting $34.38. 2,692 shares of the company were exchanged, compared to its average volume of 4,096. The company’s 50 day moving average price is $34.40 and its 200-day moving average price is $34.58. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.53 and a quick ratio of 0.88. The firm has a market capitalization of $14.28 billion, a P/E ratio of -13.59 and a beta of 0.90. Covestro has a twelve month low of $31.62 and a twelve month high of $36.60.

About Covestro

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.