Asahi Kasei (OTCMKTS:AHKSY) Shares Gap Down - Here's What Happened

Key Points

• Asahi Kasei shares gapped down Tuesday, opening at $19.51 after a $20.48 close and last trading at $19.5050 on light volume of 1,311 shares, roughly a 1.3% decline.
• Brokerages have recently upgraded the stock—Goldman Sachs and Zacks moved Asahi Kasei from "hold" to "strong-buy"—giving an average rating of "Buy"; the company has a market capitalization of $13.51 billion and a P/E of 12.67.

Asahi Kasei Corp. (OTCMKTS:AHKSY - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $20.48, but opened at $19.51. Asahi Kasei shares last traded at $19.5050, with a volume of 1,311 shares traded.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AHKSY. The Goldman Sachs Group upgraded Asahi Kasei from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 3rd. Zacks Research upgraded Asahi Kasei from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 15th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Asahi Kasei has an average rating of "Buy".

Asahi Kasei Trading Down 1.3%

The company has a quick ratio of 1.23, a current ratio of 2.11 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $13.51 billion, a P/E ratio of 12.67 and a beta of 0.47. The firm has a 50 day moving average of $21.07 and a 200-day moving average of $18.67.

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.

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