Continental AG (OTCMKTS:CTTAY) Sees Large Growth in Short Interest

Continental AG (OTCMKTS:CTTAY) was the recipient of a large growth in short interest in May. As of May 29th, there was short interest totaling 98,598 shares, a growth of 70.6% from the May 14th total of 57,807 shares. Based on an average daily trading volume, of 81,053 shares, the short-interest ratio is currently 1.2 days. Currently, 0.0% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CTTAY shares. Citigroup restated a “buy” rating on shares of Continental in a research report on Friday. Zacks Research raised shares of Continental from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Continental Price Performance

Shares of OTCMKTS CTTAY opened at $8.42 on Monday. The firm has a 50-day simple moving average of $7.85 and a 200-day simple moving average of $7.85. The company has a quick ratio of 0.82, a current ratio of 1.25 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $16.83 billion, a price-to-earnings ratio of -52.59, a price-to-earnings-growth ratio of 0.67 and a beta of 1.38. Continental has a 52 week low of $6.21 and a 52 week high of $9.19.

Continental (OTCMKTS:CTTAY) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.11 earnings per share 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 business had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.07 billion. On average, equities analysts predict that Continental will post 0.81 earnings per share for the current fiscal year.

About Continental

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.