Covia (CVIA) Sees Strong Trading Volume

Shares of Covia Holdings (NASDAQ:CVIA) saw an uptick in trading volume on Monday . 1,100,732 shares were traded during trading, an increase of 156% from the previous session’s volume of 430,435 shares.The stock last traded at $6.30 and had previously closed at $5.81.

A number of brokerages have recently commented on CVIA. Zacks Investment Research upgraded shares of Covia from a “sell” rating to a “hold” rating in a report on Wednesday, December 19th. Cowen cut shares of Covia from an “outperform” rating to a “market perform” rating in a report on Thursday, January 17th. OTR Global cut shares of Covia from a “positive” rating to a “negative” rating in a report on Friday, December 21st. Finally, Barclays began coverage on shares of Covia in a report on Tuesday, March 12th. They set an “underweight” rating and a $4.00 target price on the stock. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $12.55.

Covia (NASDAQ:CVIA) last announced its earnings results on Thursday, March 21st. The company reported ($0.39) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.09). The firm had revenue of $441.30 million for the quarter, compared to analysts’ expectations of $464.57 million. The company’s revenue was up 31.4% on a year-over-year basis.

A number of institutional investors have recently made changes to their positions in the stock. SailingStone Capital Partners LLC boosted its stake in Covia by 21.4% in the 4th quarter. SailingStone Capital Partners LLC now owns 12,997,906 shares of the company’s stock worth $44,453,000 after purchasing an additional 2,289,303 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Covia by 2.9% during the 4th quarter. Bank of New York Mellon Corp now owns 3,482,659 shares of the company’s stock valued at $11,911,000 after purchasing an additional 96,751 shares during the last quarter. Vanguard Group Inc increased its position in shares of Covia by 18.5% during the 3rd quarter. Vanguard Group Inc now owns 3,297,893 shares of the company’s stock valued at $29,582,000 after purchasing an additional 515,499 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Covia by 18.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,297,893 shares of the company’s stock valued at $29,582,000 after purchasing an additional 515,499 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Covia by 0.6% during the 3rd quarter. BlackRock Inc. now owns 2,128,665 shares of the company’s stock valued at $19,095,000 after purchasing an additional 12,785 shares during the last quarter.

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About Covia (NASDAQ:CVIA)

Covia Holdings Corporation provides minerals and material solutions for the industrial and energy markets. The company offers various mineral solutions to the glass, ceramics, coatings, polymers, construction, water filtration, sports, and recreation markets. It also offers a range of high-purity silica sand, nepheline syenite, feldspar, clay, kaolin, lime, resin systems, and coated materials.

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