Covia (CVIA) Shares Up 9.3%

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Covia Holdings (NASDAQ:CVIA)’s share price shot up 9.3% during mid-day trading on Thursday . The company traded as high as $6.15 and last traded at $5.98. 624,671 shares changed hands during trading, an increase of 8% from the average session volume of 577,016 shares. The stock had previously closed at $5.47.

A number of research firms have issued reports on CVIA. Wells Fargo & Co began coverage on shares of Covia in a research report on Friday, September 14th. They set a “market perform” rating and a $11.00 price target for the company. Morgan Stanley lowered shares of Covia from an “equal” rating to a “weight” rating in a research report on Thursday, October 11th. Seaport Global Securities reissued a “buy” rating on shares of Covia in a research report on Thursday, August 30th. Zacks Investment Research lowered shares of Covia from a “hold” rating to a “strong sell” rating in a research report on Monday, August 20th. Finally, Bank of America began coverage on shares of Covia in a research report on Wednesday, October 17th. They set an “underperform” rating for the company. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.22.

Covia (NASDAQ:CVIA) last posted its earnings results on Tuesday, August 14th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.62). The firm had revenue of $508.42 million for the quarter, compared to analysts’ expectations of $595.59 million. Covia’s quarterly revenue was up 56.9% on a year-over-year basis. During the same period last year, the business posted $0.25 earnings per share.

In other news, Director William E. Conway bought 10,000 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was purchased at an average cost of $12.25 per share, with a total value of $122,500.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Several large investors have recently bought and sold shares of CVIA. American Securities LLC purchased a new position in shares of Covia during the 2nd quarter valued at approximately $167,701,000. Hartland & Co. LLC acquired a new stake in Covia in the 2nd quarter valued at $54,407,000. BlackRock Inc. acquired a new stake in Covia in the 2nd quarter valued at $39,270,000. Bank of New York Mellon Corp acquired a new stake in Covia in the 2nd quarter valued at $34,098,000. Finally, Point72 Asset Management L.P. acquired a new stake in Covia in the 2nd quarter valued at $24,263,000.

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Covia Company Profile (NASDAQ:CVIA)

There is no company description available for Covia Holdings Corp.

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