Asahi Kasei (OTCMKTS:AHKSY) Shares Pass Above 50 Day Moving Average - Should You Sell?

Key Points

• Asahi Kasei's share price rose above its fifty-day moving average of $15.09, reaching a high of $16.82 during recent trading.
• CLSA has downgraded the stock from a "moderate buy" to a "hold" rating, with the consensus rating now being "Hold" among analysts.
• In its latest earnings report, Asahi Kasei reported $0.45 EPS, exceeding estimates, but revenues fell short of expectations at $4.96 billion.

Shares of Asahi Kasei Corp. (OTCMKTS:AHKSY - Get Free Report) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $15.09 and traded as high as $16.82. Asahi Kasei shares last traded at $16.21, with a volume of 9,006 shares.

Analyst Upgrades and Downgrades

Separately, CLSA cut shares of Asahi Kasei from a "moderate buy" rating to a "hold" rating in a report on Thursday, June 5th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Asahi Kasei has an average rating of "Hold".

Asahi Kasei Stock Up 1.2%

The business has a 50-day moving average price of $15.27 and a 200-day moving average price of $14.30. The firm has a market cap of $11.33 billion, a P/E ratio of 14.02 and a beta of 0.46. The company has a current ratio of 1.83, a quick ratio of 1.09 and a debt-to-equity ratio of 0.46.

Asahi Kasei (OTCMKTS:AHKSY - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.18. The firm had revenue of $4.96 billion during the quarter, compared to analysts' expectations 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.