COVESTRO AG/S (OTCMKTS:COVTY) shares hit a new 52-week low on Monday . The stock traded as low as $21.65 and last traded at $21.80, with a volume of 22969 shares changing hands. The stock had previously closed at $22.20.
Separately, Zacks Investment Research cut shares of COVESTRO AG/S from a “hold” rating to a “sell” rating in a research report on Wednesday, June 12th.
The stock has a market capitalization of $8.39 billion and a price-to-earnings ratio of 3.51. The business’s 50-day simple moving average is $23.99.
Covestro AG develops, produces, and markets polymer materials for various industries worldwide. The company operates in three segments: Polyurethanes; Polycarbonates; and Coatings, Adhesives, Specialties. The Polyurethanes segment offers precursors, such as flexible polyurethane foam primarily used in the furniture and automotive industries; and rigid foam used as insulating material in the construction industry and in refrigeration chains.
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