Asahi Kasei (OTCMKTS:AHKSY) Shares Gap Down – Here’s What Happened

Asahi Kasei Corp. (OTCMKTS:AHKSY) gapped down before the market opened on Friday . The stock had previously closed at $23.00, but opened at $21.1940. Asahi Kasei shares last traded at $21.50, with a volume of 3,037 shares traded.

Analyst Upgrades and Downgrades

Separately, Zacks Research downgraded Asahi Kasei from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy”.

Asahi Kasei Stock Down 6.6%

The stock has a market capitalization of $14.97 billion, a P/E ratio of 13.95 and a beta of 0.53. The stock has a 50 day moving average price of $22.36 and a 200-day moving average price of $21.17. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.35.

Asahi Kasei (OTCMKTS:AHKSY) last issued its earnings results on Friday, July 31st. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.10. Asahi Kasei had a return on equity of 8.53% and a net margin of 5.14%. As a group, research analysts expect that Asahi Kasei Corp. will post 1.61 EPS for the current fiscal year.

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.