Asahi Kasei (OTCMKTS:AHKSY) Shares Gap Down - Time to Sell?

Asahi Kasei Corp. (OTCMKTS:AHKSY - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $13.31, but opened at $12.71. Asahi Kasei shares last traded at $12.94, with a volume of 5,661 shares.

Analysts Set New Price Targets

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

Asahi Kasei Trading Down 2.9%

The firm has a fifty day simple moving average of $13.67 and a two-hundred day simple moving average of $13.69. The stock has a market cap of $9.00 billion, a PE ratio of 10.09 and a beta of 0.47. 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 issued its quarterly earnings results on Friday, May 9th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.14. The firm had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.21 billion. Asahi Kasei had a return on equity of 7.03% and a net margin of 4.44%.

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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