Covia (NASDAQ:CVIA) Shares Up 6.7%

Covia Holdings (NASDAQ:CVIA) shot up 6.7% on Monday . The company traded as high as $1.59 and last traded at $1.59, 211,571 shares traded hands during mid-day trading. A decline of 61% from the average session volume of 549,294 shares. The stock had previously closed at $1.49.

A number of research firms recently weighed in on CVIA. Bank of America reaffirmed an “underperform” rating and issued a $1.50 price target (down previously from $4.00) on shares of Covia in a report on Tuesday, June 25th. Zacks Investment Research cut Covia from a “hold” rating to a “sell” rating in a report on Thursday, September 12th. Barclays raised Covia from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $2.00 to $3.00 in a report on Tuesday, August 13th. Finally, Morgan Stanley reduced their price target on Covia from $2.50 to $2.00 and set an “underweight” rating for the company in a report on Monday, October 7th. Five research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Covia presently has an average rating of “Sell” and an average target price of $4.50.

The business has a fifty day simple moving average of $1.91 and a 200 day simple moving average of $2.68.

Covia (NASDAQ:CVIA) last announced its earnings results on Thursday, August 8th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The business had revenue of $444.94 million during the quarter, compared to analyst estimates of $494.36 million. During the same period in the prior year, the firm earned $0.14 earnings per share. Covia’s revenue was down 12.5% on a year-over-year basis.

In other news, CFO Andrew Eich bought 20,000 shares of Covia stock in a transaction on Friday, August 23rd. The stock was acquired at an average price of $1.51 per share, with a total value of $30,200.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Several institutional investors have recently made changes to their positions in the business. Clearstead Advisors LLC raised its holdings in shares of Covia by 7.4% during the second quarter. Clearstead Advisors LLC now owns 3,099,701 shares of the company’s stock valued at $6,075,000 after acquiring an additional 212,593 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Covia by 28.3% in the second quarter. BlackRock Inc. now owns 2,721,371 shares of the company’s stock valued at $5,332,000 after purchasing an additional 600,107 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Covia by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 1,439,760 shares of the company’s stock valued at $2,822,000 after purchasing an additional 47,308 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Covia by 3.6% in the second quarter. Northern Trust Corp now owns 425,674 shares of the company’s stock valued at $834,000 after purchasing an additional 14,722 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of Covia by 273.8% in the second quarter. Morgan Stanley now owns 307,984 shares of the company’s stock valued at $602,000 after purchasing an additional 225,587 shares during the last quarter.

About Covia (NASDAQ:CVIA)

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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