Covia (CVIA) Shares Down 5.5%

Covia Holdings (NASDAQ:CVIA) traded down 5.5% during mid-day trading on Thursday . The stock traded as low as $9.00 and last traded at $9.05. 628,667 shares traded hands during mid-day trading, an increase of 31% from the average session volume of 480,648 shares. The stock had previously closed at $9.58.

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Co assumed coverage on shares of Covia in a research report on Friday. They issued a “market perform” rating and a $11.00 price objective for the company. Piper Jaffray Companies assumed coverage on shares of Covia in a research report on Monday, June 18th. They issued an “overweight” rating and a $24.00 price objective for the company. Seaport Global Securities reissued a “buy” rating on shares of Covia in a research report on Thursday, August 30th. Zacks Investment Research lowered shares of Covia from a “hold” rating to a “strong sell” rating in a research report on Monday, August 20th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $15.00 price objective on shares of Covia in a research report on Friday, August 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $16.94.

Covia (NASDAQ:CVIA) last released its quarterly earnings results on Tuesday, August 14th. The company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.62). The company had revenue of $508.42 million for the quarter, compared to analyst estimates of $595.59 million. The company’s quarterly revenue was up 56.9% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WealthTrust Fairport LLC acquired a new stake in Covia during the 2nd quarter valued at $164,000. Bank of New York Mellon Corp acquired a new stake in Covia during the 2nd quarter valued at $34,098,000. HighPoint Advisor Group LLC acquired a new stake in Covia during the 2nd quarter valued at $409,000. California Public Employees Retirement System acquired a new stake in Covia during the 2nd quarter valued at $1,696,000. Finally, Castleark Management LLC acquired a new stake in Covia during the 2nd quarter valued at $314,000.

Covia Company Profile (NASDAQ:CVIA)

There is no company description available for Covia Holdings Corp.

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