Continental (OTCMKTS:CTTAY) Sees Unusually-High Trading Volume – Time to Buy?

Continental AG (OTCMKTS:CTTAY) shares saw strong trading volume on Thursday . Approximately 596,897 shares changed hands during trading, an increase of 757% from the previous session’s volume of 69,638 shares.The stock last traded at $8.49 and had previously closed at $8.35.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CTTAY. Citigroup reaffirmed a “buy” rating on shares of Continental in a research note on Friday, June 12th. Zacks Research raised shares of Continental from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Continental currently has a consensus rating of “Hold”.

Continental Price Performance

The stock has a 50 day moving average of $8.07 and a two-hundred day moving average of $7.92. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.82 and a current ratio of 1.25. The firm has a market capitalization of $17.00 billion, a P/E ratio of -53.12, a P/E/G ratio of 0.67 and a beta of 1.38.

Continental (OTCMKTS:CTTAY) last announced its earnings results on Wednesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). Continental had a negative return on equity of 4.89% and a net margin of 0.19%.The company had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.07 billion. Sell-side analysts predict that Continental AG will post 0.8 earnings per share for the current fiscal year.

Continental Company Profile

Continental AG, trading on the OTC market under the ticker CTTAY, is a global technology company renowned for its wide range of automotive and industrial products. The company’s core businesses include the design, development, and manufacturing of tires for passenger cars, commercial trucks, and specialty applications, as well as advanced automotive systems such as braking solutions, vehicle stability controls, sensors and electronic safety devices.

Founded in 1871 and headquartered in Hanover, Germany, Continental began as a rubber manufacturer before pioneering pneumatic tires in the late 19th century.