Asahi Kasei (OTCMKTS:AHKSY) Shares Gap Down – Here’s Why

Asahi Kasei Corp. (OTCMKTS:AHKSY)’s share price gapped down before the market opened on Friday . The stock had previously closed at $23.00, but opened at $21.1940. Asahi Kasei shares last traded at $21.50, with a volume of 3,037 shares trading hands.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded 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 data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Asahi Kasei Stock Down 6.6%

The firm has a market capitalization of $14.97 billion, a P/E ratio of 13.95 and a beta of 0.53. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.35 and a current ratio of 2.35. The stock has a 50 day moving average of $22.36 and a 200-day moving average of $21.17.

Asahi Kasei (OTCMKTS:AHKSY) last released its quarterly earnings results on Friday, July 31st. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.10. Asahi Kasei had a return on equity of 8.53% and a net margin of 5.14%. Research analysts predict that Asahi Kasei Corp. will post 1.61 earnings per share for the current fiscal year.

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.