Covia (CVIA) Downgraded by Cowen to “Market Perform”

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Cowen lowered shares of Covia (NASDAQ:CVIA) from an outperform rating to a market perform rating in a research note released on Thursday morning, MarketBeat.com reports.

Several other brokerages also recently weighed in on CVIA. B. Riley cut their price objective on shares of Covia from $15.00 to $10.00 and set a neutral rating on the stock in a research report on Tuesday, November 20th. Zacks Investment Research downgraded shares of Covia from a hold rating to a sell rating in a research report on Tuesday, November 20th. Jefferies Financial Group downgraded shares of Covia from a buy rating to a hold rating and set a $8.00 price target on the stock. in a research report on Wednesday, October 17th. Credit Suisse Group downgraded shares of Covia from a neutral rating to an underperform rating and dropped their price target for the stock from $14.00 to $7.50 in a research report on Wednesday, October 3rd. Finally, Piper Jaffray Companies downgraded shares of Covia from an overweight rating to a neutral rating in a research report on Tuesday, October 2nd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $13.50.

NASDAQ:CVIA traded up $0.10 during mid-day trading on Thursday, hitting $5.25. The stock had a trading volume of 261,700 shares, compared to its average volume of 560,677. Covia has a 52 week low of $3.23 and a 52 week high of $30.00.

Covia (NASDAQ:CVIA) last issued its quarterly earnings data on Wednesday, November 14th. The company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.21). The company had revenue of $523.40 million for the quarter, compared to analysts’ expectations of $615.07 million. The business’s quarterly revenue was up 50.5% compared to the same quarter last year.

In other Covia news, Director William E. Conway acquired 20,000 shares of the stock in a transaction dated Monday, November 19th. The shares were bought at an average price of $6.98 per share, with a total value of $139,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Several institutional investors and hedge funds have recently made changes to their positions in CVIA. Virtu Financial LLC purchased a new position in shares of Covia in the fourth quarter worth approximately $38,000. GSA Capital Partners LLP purchased a new position in shares of Covia in the third quarter worth approximately $110,000. Cubist Systematic Strategies LLC purchased a new position in shares of Covia in the second quarter worth approximately $117,000. Meeder Asset Management Inc. increased its position in shares of Covia by 88.8% in the fourth quarter. Meeder Asset Management Inc. now owns 36,976 shares of the company’s stock worth $127,000 after acquiring an additional 17,388 shares in the last quarter. Finally, Sterling Investment Advisors Ltd. increased its position in shares of Covia by 150.0% in the third quarter. Sterling Investment Advisors Ltd. now owns 15,000 shares of the company’s stock worth $135,000 after acquiring an additional 9,000 shares in the last quarter.

About Covia

Covia Holdings Corporation provides minerals and material solutions for the industrial and energy markets. The company offers various mineral solutions to the glass, ceramics, coatings, polymers, construction, water filtration, sports, and recreation markets. It also offers a range of high-purity silica sand, nepheline syenite, feldspar, clay, kaolin, lime, resin systems, and coated materials.

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Analyst Recommendations for Covia (NASDAQ:CVIA)

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