Asahi Kasei (OTCMKTS:AHKSY) Sees Strong Trading Volume – Still a Buy?

Shares of Asahi Kasei Corp. (OTCMKTS:AHKSY) saw an uptick in trading volume on Tuesday . 33,555 shares were traded during mid-day trading, an increase of 20% from the previous session’s volume of 28,033 shares.The stock last traded at $19.17 and had previously closed at $19.01.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upgraded Asahi Kasei from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Asahi Kasei Stock Performance

The business’s 50 day simple moving average is $21.03 and its two-hundred day simple moving average is $18.26. The firm has a market capitalization of $13.36 billion, a PE ratio of 12.53 and a beta of 0.41. 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.