Asahi Kasei (OTCMKTS:AHKSY) Sees Unusually-High Trading Volume – What’s Next?

Asahi Kasei Corp. (OTCMKTS:AHKSY) shares saw an uptick in trading volume on Friday . 59,843 shares changed hands during trading, an increase of 192% from the previous session’s volume of 20,490 shares.The stock last traded at $21.9225 and had previously closed at $20.87.

Analysts Set New Price Targets

Separately, Zacks Research raised Asahi Kasei to a “hold” rating in a research report on Thursday, October 30th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Asahi Kasei Stock Up 4.6%

The company has a current ratio of 2.20, a quick ratio of 1.26 and a debt-to-equity ratio of 0.46. The firm has a market cap of $15.21 billion, a price-to-earnings ratio of 14.26 and a beta of 0.43. The firm’s 50 day simple moving average is $18.25 and its two-hundred day simple moving average is $16.64.

Asahi Kasei (OTCMKTS:AHKSY) last announced its earnings results on Wednesday, November 5th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.03). Asahi Kasei had a return on equity of 8.34% and a net margin of 5.14%.The business had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $5.12 billion.

About Asahi Kasei

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.