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

Shares of Asahi Kasei Corp. (OTCMKTS:AHKSY) gapped up before the market opened on Thursday . The stock had previously closed at $19.44, but opened at $20.5650. Asahi Kasei shares last traded at $20.55, with a volume of 5,111 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upgraded shares of 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 issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Asahi Kasei Trading Down 1.0%

The company has a market cap of $14.42 billion, a price-to-earnings ratio of 13.52 and a beta of 0.47. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.11 and a quick ratio of 1.23. The firm’s fifty day moving average price is $21.12 and its 200-day moving average price is $18.42.

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.