Asahi Glass (OTCMKTS:ASGLY) Shares Gap Down – Here’s Why

Asahi Glass Co. Ltd. (OTCMKTS:ASGLY) gapped down prior to trading on Friday . The stock had previously closed at $7.35, but opened at $7.0480. Asahi Glass shares last traded at $7.0480, with a volume of 121 shares changing hands.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Asahi Glass to a “hold” rating in a report on Wednesday, June 17th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Asahi Glass has an average rating of “Hold”.

Asahi Glass Trading Down 4.1%

The business’s 50 day simple moving average is $7.36 and its 200 day simple moving average is $7.70. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of 12.81 and a beta of 0.46. The company has a quick ratio of 0.71, a current ratio of 1.38 and a debt-to-equity ratio of 0.24.

About Asahi Glass

Asahi Glass Co, Ltd., now known as AGC Inc, is a Japanese materials manufacturer serving the building, automotive, electronics, chemicals and life sciences industries. The company develops and produces glass, chemicals, ceramics and related advanced materials for industrial and consumer applications.

Its products include architectural and automotive glass, display glass and other electronic materials, chemicals, pharmaceutical-related products, and ceramic materials. AGC also provides glass and materials used in buildings, vehicles, solar applications and various high-technology manufacturing processes.

Founded in 1907, the company has expanded from its original glassmaking operations into a global materials business.