Short Interest in Asahi Kasei Corp. (OTCMKTS:AHKSY) Declines By 64.8%

Asahi Kasei Corp. (OTCMKTS:AHKSY) was the recipient of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 25,913 shares, a drop of 64.8% from the June 30th total of 73,700 shares. Based on an average daily volume of 67,252 shares, the short-interest ratio is currently 0.4 days. Approximately 0.0% of the company’s shares are short sold.

Asahi Kasei Price Performance

Shares of AHKSY stock opened at $22.65 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.35 and a current ratio of 2.35. Asahi Kasei has a fifty-two week low of $13.46 and a fifty-two week high of $24.12. The firm has a market cap of $15.79 billion, a P/E ratio of 14.71 and a beta of 0.53. The business’s 50 day moving average price is $22.29 and its 200-day moving average price is $21.08.

Wall Street Analyst Weigh In

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

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.