Asahi Kasei (OTCMKTS:AHKSY) Shares Gap Down – Should You Sell?

Asahi Kasei Corp. (OTCMKTS:AHKSY) shares gapped down prior to trading on Wednesday . The stock had previously closed at $23.77, but opened at $22.40. Asahi Kasei shares last traded at $22.40, with a volume of 724 shares trading hands.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised Asahi Kasei from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Asahi Kasei currently has a consensus rating of “Moderate Buy”.

Asahi Kasei Price Performance

The stock has a market cap of $15.14 billion, a price-to-earnings ratio of 14.20 and a beta of 0.41. The company has a 50 day simple moving average of $20.44 and a 200-day simple moving average of $17.81. The company has a current ratio of 2.11, a quick ratio of 1.23 and a debt-to-equity ratio of 0.42.

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.