Idemitsu Kosan Co.,Ltd. (OTCMKTS:IDKOY) Shares Down 8.6% – Here’s What Happened

Shares of Idemitsu Kosan Co.,Ltd. (OTCMKTS:IDKOY) were down 8.6% on Friday . The company traded as low as $15.19 and last traded at $15.19. Approximately 375 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 3,569 shares. The stock had previously closed at $16.62.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised shares of Idemitsu Kosan Co.,Ltd. to a “hold” rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Idemitsu Kosan Co.,Ltd. Trading Down 8.6%

The stock’s 50-day moving average is $18.19 and its 200-day moving average is $17.25. The stock has a market cap of $9.29 billion and a P/E ratio of 0.38.

Idemitsu Kosan Co.,Ltd. Company Profile

Idemitsu Kosan Co, Ltd. is a Japanese energy company primarily engaged in the refining of crude oil and the production of petroleum products. Established in 1911 by Sazo Idemitsu, the company has grown into one of Japan’s leading refiners, supplying gasoline, diesel, jet fuel and kerosene to both industrial and retail customers. Its core refining operations are supported by a network of domestic refineries that process a wide range of crude oils.

In addition to its downstream refining business, Idemitsu Kosan manufactures petrochemical feedstocks used in the production of plastics, synthetic rubbers and other chemical intermediates.