Asahi Kasei Corp. (OTCMKTS:AHKSY) Sees Large Increase in Short Interest

Asahi Kasei Corp. (OTCMKTS:AHKSY) was the target of a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 90,377 shares, an increase of 327.8% from the May 14th total of 21,127 shares. Based on an average daily volume of 60,287 shares, the short-interest ratio is currently 1.5 days. Currently, 0.0% of the shares of the company are short sold.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Zacks Research downgraded shares of Asahi Kasei from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. The Goldman Sachs Group raised shares of Asahi Kasei from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Asahi Kasei has an average rating of “Buy”.

Asahi Kasei Trading Up 1.0%

OTCMKTS:AHKSY opened at $22.54 on Friday. The company has a current ratio of 2.35, a quick ratio of 1.23 and a debt-to-equity ratio of 0.40. Asahi Kasei has a 12 month low of $12.71 and a 12 month high of $24.12. The company has a market cap of $15.71 billion, a PE ratio of 14.64 and a beta of 0.52. The company has a 50 day simple moving average of $20.71 and a two-hundred day simple moving average of $19.95.

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.