Covestro (ETR:1COV) Sets New 52-Week High – Here’s Why

Covestro AG (ETR:1COV) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as €58.50 ($63.59) and last traded at €58.40 ($63.48), with a volume of 442336 shares changing hands. The stock had previously closed at €58.44 ($63.52).

Covestro Stock Performance

The firm has a fifty day simple moving average of €55.64 and a 200 day simple moving average of €52.79. The company has a current ratio of 1.71, a quick ratio of 0.85 and a debt-to-equity ratio of 55.84. The stock has a market cap of $11.02 billion, a price-to-earnings ratio of -33.78, a PEG ratio of 0.51 and a beta of 1.17.

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.