Asahi Kasei (OTCMKTS:AHKSY) Shares Gap Down – Here’s What Happened

Shares of Asahi Kasei Corp. (OTCMKTS:AHKSY) gapped down prior to trading on Friday . The stock had previously closed at $23.00, but opened at $21.1940. Asahi Kasei shares last traded at $21.50, with a volume of 3,037 shares changing hands.

Analyst Ratings Changes

Separately, Zacks Research downgraded Asahi Kasei from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Asahi Kasei has an average rating of “Buy”.

Asahi Kasei Stock Down 6.6%

The firm’s 50 day moving average is $22.35 and its 200-day moving average is $21.17. The firm has a market cap of $14.98 billion, a PE ratio of 11.68 and a beta of 0.53. The company has a quick ratio of 1.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.40.

Asahi Kasei Company Profile

Asahi Kasei Corp., headquartered in Tokyo, is a diversified Japanese manufacturer with operations spanning chemicals, homes, health care and electronics. Established in 1931, the company has grown from its origins in ammonia production to become a global supplier of advanced materials and solutions. Its broad product portfolio serves customers across Asia, Europe and the Americas, emphasizing innovation in polymer science, life sciences and residential construction.

Within its material science division, Asahi Kasei produces performance plastics, synthetic fibers and specialty chemicals used in automotive, consumer goods and industrial applications.