Asahi Kasei (OTCMKTS:AHKSY) Stock Price Crosses Above 50-Day Moving Average - Here's Why

Key Points

• Asahi Kasei Corp.'s share price rose above its 50-day moving average of $13.81, reaching a peak of $14.99 before closing at $14.56 with a trading volume of 8,789 shares.
• CLSA has downgraded Asahi Kasei's stock rating from "moderate buy" to "hold" as of June 5th.
• The company reported $0.45 earnings per share for the last quarter, surpassing analysts' expectations of $0.27, though revenue fell short of estimates at $4.96 billion.

Shares of Asahi Kasei Corp. (OTCMKTS:AHKSY - Get Free Report) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $13.81 and traded as high as $14.99. Asahi Kasei shares last traded at $14.56, with a volume of 8,789 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, CLSA lowered shares of Asahi Kasei from a "moderate buy" rating to a "hold" rating in a research note on Thursday, June 5th.

Asahi Kasei Stock Performance

The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.09 and a current ratio of 1.83. The firm's fifty day moving average price is $13.85 and its 200 day moving average price is $13.76. The firm has a market cap of $10.52 billion, a P/E ratio of 13.01 and a beta of 0.51.

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

Asahi Kasei Company Profile

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.