Short Interest in Continental AG (OTCMKTS:CTTAY) Drops By 66.5%

Continental AG (OTCMKTS:CTTAY) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 28,847 shares, a drop of 66.5% from the August 15th total of 86,037 shares. Based on an average daily volume of 50,960 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.0% of the company’s stock are sold short.

Continental Stock Down 0.4%

Shares of CTTAY traded down $0.03 during midday trading on Friday, hitting $8.10. The company had a trading volume of 16,091 shares, compared to its average volume of 26,481. The stock has a market cap of $16.20 billion, a price-to-earnings ratio of -27.00, a PEG ratio of 1.11 and a beta of 1.39. The company’s 50 day moving average price is $8.08 and its 200 day moving average price is $7.92. The company has a quick ratio of 0.82, a current ratio of 1.38 and a debt-to-equity ratio of 0.94. Continental has a 52 week low of $6.21 and a 52 week high of $9.00.

Continental (OTCMKTS:CTTAY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.03 billion. Continental had a negative return on equity of 10.86% and a negative net margin of 1.36%. On average, equities research analysts predict that Continental will post 0.67 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CTTAY. Oddo Bhf raised Continental from a “neutral” rating to an “outperform” rating in a research report on Thursday, September 3rd. Kepler Capital Markets downgraded Continental from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Continental in a report on Thursday, July 2nd. Finally, Citigroup reaffirmed a “buy” rating on shares of Continental in a research report on Friday, June 12th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Continental has an average rating of “Hold”.

About Continental

Continental AG is a Germany-based technology company that develops products and systems for the automotive and transportation industries. Its activities include vehicle electronics, advanced driver assistance and automated driving technologies, software, connectivity solutions, braking systems, sensors, and other components designed to support vehicle safety, efficiency, and performance.

Through its Tires business, Continental manufactures passenger-car, commercial-vehicle, specialty, and two-wheel tires, along with related services and digital tire-management solutions.