Asahi Kasei Corp. (OTCMKTS:AHKSY) Short Interest Down 53.6% in August

Key Points

• Short interest in Asahi Kasei Corp. decreased by 53.6% in August, dropping from 13,800 to 6,400 shares as of August 15th.
• Following an earnings report that exceeded expectations, Asahi Kasei reported $0.45 earnings per share, surpassing the consensus estimate of $0.27.
• Analysts have mixed reviews on the stock, with CLSA downgrading it from "moderate buy" to "hold," resulting in a current consensus rating of "Hold."

Asahi Kasei Corp. (OTCMKTS:AHKSY - Get Free Report) was the recipient of a significant decline in short interest during the month of August. As of August 15th, there was short interest totaling 6,400 shares, adeclineof53.6% from the July 31st total of 13,800 shares. Based on an average daily volume of 23,500 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 23,500 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Upgrades and Downgrades

Separately, CLSA cut Asahi Kasei from a "moderate buy" rating to a "hold" rating in a report on Thursday, June 5th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Asahi Kasei presently has a consensus rating of "Hold".

Asahi Kasei Stock Performance

OTCMKTS AHKSY opened at $16.30 on Friday. Asahi Kasei has a fifty-two week low of $12.12 and a fifty-two week high of $17.28. The stock has a market cap of $11.36 billion, a price-to-earnings ratio of 14.05 and a beta of 0.46. The business has a fifty day moving average of $14.83 and a 200-day moving average of $14.10. The company has a quick ratio of 1.09, a current ratio of 1.83 and a debt-to-equity ratio of 0.46.

Asahi Kasei (OTCMKTS:AHKSY - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.18. Asahi Kasei had a return on equity of 7.48% and a net margin of 3.95%.The company had revenue of $4.96 billion during the quarter, compared to analysts' expectations of $5.15 billion.

About Asahi Kasei

Asahi Kasei Corporation manufactures and sells chemicals. It offers caustic soda, chemical fertilizers, nitric acid, ammonia, acrylonitrile, methyl methacrylate, styrene, adipic acid, hexamethylene diamine, AH salt, propionitrile, sodium cyanide, acetonitrile, methacrylonitrile, cyclohexyl methacrylate, polyethylenes, polyethylenes powder, PMMA resin, polystyrene, polybutadiene rubbers, styrene/butadiene rubbers, clear styrenic copolymer, styrenic thermoplastic elastomer, hydrogenated styrenic elastomers, membranes and systems, functional materials, foams, purging compound, polyisocyanates, polycarbonatediol, aluminum paste, latex, photopolymers and platemaking systems, films, cyclohexanol, cyclohexane, and cyclohexene.

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