Continental (OTCMKTS:CTTAY) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Continental AG (OTCMKTS:CTTAY) saw strong trading volume on Thursday . 86,124 shares were traded during mid-day trading, an increase of 307% from the previous session’s volume of 21,182 shares.The stock last traded at $8.49 and had previously closed at $8.54.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CTTAY shares. Citigroup reiterated a “buy” rating on shares of Continental in a research note on Tuesday. Sanford C. Bernstein upgraded Continental from an “underperform” rating to a “market perform” rating in a research note on Monday, January 5th. Jefferies Financial Group raised shares of Continental from a “hold” rating to a “buy” rating in a report on Monday, November 24th. Zacks Research lowered Continental from a “strong-buy” rating to a “strong sell” rating in a report on Monday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Continental from a “hold” rating to a “buy” rating in a research report on Friday, October 17th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Continental currently has an average rating of “Hold”.

Continental Stock Down 0.2%

The stock has a market capitalization of $16.84 billion, a P/E ratio of 52.63 and a beta of 1.29. The business has a 50-day moving average price of $7.91 and a 200 day moving average price of $7.91. The company has a current ratio of 1.32, a quick ratio of 0.90 and a debt-to-equity ratio of 1.25.

Continental (OTCMKTS:CTTAY) last announced its earnings results on Thursday, November 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.17). Continental had a net margin of 0.91% and a return on equity of 1.14%. The business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $4.93 billion. On average, equities analysts expect that Continental AG will post 0.66 EPS 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.