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

Asahi Kasei Corp. (OTCMKTS:AHKSY) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 28,648 shares, an increase of 679.7% from the September 15th total of 3,674 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily volume of 48,363 shares, the short-interest ratio is presently 0.6 days.

Asahi Kasei Price Performance

Shares of Asahi Kasei stock opened at $20.06 on Friday. Asahi Kasei has a twelve month low of $15.18 and a twelve month high of $24.12. The company has a quick ratio of 1.12, a current ratio of 2.01 and a debt-to-equity ratio of 0.42. The company has a 50-day simple moving average of $20.69 and a two-hundred day simple moving average of $21.07. The stock has a market capitalization of $13.98 billion, a price-to-earnings ratio of 10.90 and a beta of 0.57.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lowered Asahi Kasei from a “buy” rating to a “neutral” rating in a report on Thursday. Two equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company presently has an average rating of “Hold”.

About Asahi Kasei

Asahi Kasei Corporation is a diversified Japanese manufacturer serving the material, homes and health care markets. Founded in 1922 and headquartered in Tokyo, the company develops and supplies products ranging from chemicals and performance materials to medical devices and housing-related goods and services.

Its materials operations include petrochemical products, synthetic resins, elastomers, coatings and electronic materials, as well as battery separators and other components used in automobiles, electronics and industrial applications.