Covestro (OTCMKTS:COVTY) Trading 0.3% Higher – Time to Buy?

Covestro AG (OTCMKTS:COVTY) shares traded up 0.3% during mid-day trading on Friday . The stock traded as high as $30.20 and last traded at $30.09. 12,043 shares changed hands during trading, a decline of 54% from the average session volume of 26,096 shares. The stock had previously closed at $30.01.

Analyst Upgrades and Downgrades

COVTY has been the topic of several recent research reports. Citigroup upgraded Covestro to a “hold” rating in a report on Thursday, October 3rd. Barclays raised shares of Covestro to a “hold” rating in a research note on Wednesday, October 9th.

Covestro Stock Performance

The firm’s 50-day simple moving average is $31.19 and its 200 day simple moving average is $29.37. The company has a market cap of $11.37 billion, a P/E ratio of -40.66 and a beta of 1.18.

Covestro (OTCMKTS:COVTY) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.09 EPS for the quarter. The company had revenue of $3.96 billion during the quarter. As a group, research analysts forecast that Covestro AG will post 0.03 earnings per share for the current year.

About Covestro

Covestro AG supplies high-tech polymer materials and application solutions. It operates in two segments, Performance Materials, and Solutions & Specialties. The Performance Materials segment develops, produces, and supplies high-performance materials, such as polyurethanes and polycarbonates, and base chemicals, which include diphenylmethane diisocyanate (MDI), toluylene diisocyanate, long-chain polyols, and polycarbonate resins for use in furniture and wood processing, construction, automotive, and transportation industries, as well as roof structures, insulation for buildings and refrigerators, mattresses, car seats, and other applications.