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

Asahi Kasei Corp. (OTCMKTS:AHKSY) gapped up prior to trading on Tuesday . The stock had previously closed at $20.96, but opened at $22.32. Asahi Kasei shares last traded at $21.40, with a volume of 1,039 shares changing hands.

Wall Street Analysts Forecast Growth

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

Asahi Kasei Stock Performance

The stock has a market capitalization of $14.92 billion, a PE ratio of 13.99 and a beta of 0.41. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.23 and a current ratio of 2.11. The firm’s 50 day moving average is $20.73 and its two-hundred day moving average is $17.97.

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.