Evonik Industries AG (OTCMKTS:EVKIF – Get Rating) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 980,500 shares, an increase of 100.4% from the August 15th total of 489,300 shares. Based on an average daily trading volume, of 500 shares, the days-to-cover ratio is currently 1,961.0 days.
Analyst Ratings Changes
A number of brokerages recently commented on EVKIF. UBS Group downgraded Evonik Industries from a “buy” rating to a “neutral” rating in a research note on Thursday, July 14th. Berenberg Bank reduced their price target on Evonik Industries from €28.00 ($28.57) to €25.00 ($25.51) in a research report on Thursday, August 18th. Morgan Stanley reduced their price target on Evonik Industries from €33.00 ($33.67) to €30.00 ($30.61) in a research report on Tuesday, July 19th. Barclays lowered Evonik Industries from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 13th. Finally, JPMorgan Chase & Co. cut their price objective on Evonik Industries from €36.00 ($36.73) to €28.00 ($28.57) and set an “overweight” rating for the company in a report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Evonik Industries has an average rating of “Hold” and a consensus target price of $25.50.
Evonik Industries Price Performance
Shares of OTCMKTS EVKIF opened at $18.24 on Friday. Evonik Industries has a 12 month low of $18.00 and a 12 month high of $33.51. The business has a fifty day simple moving average of $20.07 and a 200-day simple moving average of $23.96.
Evonik Industries Company Profile
Evonik Industries AG engages in the specialty chemicals business. It operates through Specialty Additives, Nutrition & Care, Smart Materials, Performance Materials, and Technology & Infrastructure segments. The Specialty Additives segment provides polyurethane additives, organically modified silicones, isophorones, epoxy curing agents, oil additives, fumed silicas, matting agents, TAA and TAA derivatives, and acetylenic diol-based surfactants for consumer goods and specialized industrial applications.
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