Asahi Kasei (OTCMKTS:AHKSY) Trading Down 9.7% – Here’s Why

Shares of Asahi Kasei Corp. (OTCMKTS:AHKSY) traded down 9.7% during mid-day trading on Monday . The company traded as low as $20.76 and last traded at $20.76. Approximately 1,947 shares were traded during trading, a decline of 94% from the average daily volume of 30,226 shares. The stock had previously closed at $23.00.

Analysts Set New Price Targets

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

Asahi Kasei Stock Down 3.4%

The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.35 and a current ratio of 2.35. The company has a market cap of $14.47 billion, a P/E ratio of 11.29 and a beta of 0.53. The business’s fifty day moving average is $22.35 and its two-hundred day moving average is $21.19.

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.