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

Shares of Asahi Kasei Corp. (OTCMKTS:AHKSY) gapped up prior to trading on Tuesday . The stock had previously closed at $20.0715, but opened at $20.77. Asahi Kasei shares last traded at $20.7175, with a volume of 369 shares traded.

Analysts Set New Price Targets

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

Asahi Kasei Stock Up 1.8%

The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.35. The stock has a market cap of $14.48 billion, a PE ratio of 11.29 and a beta of 0.53. The business has a fifty day moving average of $21.83 and a 200-day moving average of $21.34.

About Asahi Kasei

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.