Covestro (OTCMKTS:COVTY) Sees Unusually-High Trading Volume – Still a Buy?

Covestro AG Sponsored ADR (OTCMKTS:COVTY) shares saw strong trading volume on Friday . 28,345 shares changed hands during trading, an increase of 148% from the previous session’s volume of 11,451 shares.The stock last traded at $35.00 and had previously closed at $34.80.

Analyst Upgrades and Downgrades

Separately, Alembic Global Advisors lowered shares of Covestro to a “hold” rating in a report on Monday, October 27th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold”.

Covestro Stock Performance

The business’s 50-day moving average price is $34.54 and its 200 day moving average price is $34.71. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.73 and a current ratio of 1.36.

Covestro (OTCMKTS:COVTY) last released its quarterly earnings results on Thursday, October 30th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.02. Covestro had a negative net margin of 3.34% and a negative return on equity of 7.04%. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.69 billion. As a group, equities research analysts anticipate that Covestro AG Sponsored ADR will post 0.03 earnings per share for the current year.

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.