Asahi Kasei (OTCMKTS:AHKSY) Shares Down 4.5% – What’s Next?

Asahi Kasei Corp. (OTCMKTS:AHKSY)’s stock price fell 4.5% during trading on Friday. The stock traded as low as $19.98 and last traded at $20.02. Approximately 1,517 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 31,978 shares. The stock had previously closed at $20.97.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lowered Asahi Kasei from a “buy” rating to a “neutral” rating in a report on Thursday. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

Asahi Kasei Stock Down 1.9%

The firm has a market cap of $13.94 billion, a P/E ratio of 10.87 and a beta of 0.57. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.01 and a quick ratio of 1.12. The company’s 50-day simple moving average is $20.72 and its 200 day simple moving average is $21.08.

Asahi Kasei Company Profile

Asahi Kasei Corporation is a diversified Japanese manufacturer serving the material, homes and health care markets. Founded in 1922 and headquartered in Tokyo, the company develops and supplies products ranging from chemicals and performance materials to medical devices and housing-related goods and services.

Its materials operations include petrochemical products, synthetic resins, elastomers, coatings and electronic materials, as well as battery separators and other components used in automobiles, electronics and industrial applications.