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

Key Points

• Asahi Kasei gapped down — the stock opened at $20.13 versus a prior close of $20.6550 and last traded at $19.8750, down about 2.8% on very light volume (716 shares).
• Goldman Sachs upgraded the shares from "hold" to "strong-buy" on March 3; overall analyst coverage shows one Strong Buy and two Holds, giving a MarketBeat average rating of "Moderate Buy."
• Key fundamentals: market cap about $13.87 billion, P/E of 13.01, 50-day/200-day moving averages of $21.18/$18.53, current ratio 2.11 and debt-to-equity 0.42.

Asahi Kasei Corp. (OTCMKTS:AHKSY - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $20.6550, but opened at $20.13. Asahi Kasei shares last traded at $19.8750, with a volume of 716 shares trading hands.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upgraded shares of Asahi Kasei from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Asahi Kasei currently has an average rating of "Moderate Buy".

Asahi Kasei Trading Down 2.8%

The company has a 50 day moving average of $21.18 and a 200 day moving average of $18.53. The company has a current ratio of 2.11, a quick ratio of 1.23 and a debt-to-equity ratio of 0.42. The firm has a market cap of $13.87 billion, a price-to-earnings ratio of 13.01 and a beta of 0.47.

Asahi Kasei Company Profile

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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