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

Key Points

• Shares gapped up pre-market from $19.44 to an open of $20.5650 and last traded at $20.55 on a volume of 5,111 shares.
• Goldman Sachs upgraded Asahi Kasei from "hold" to "strong-buy" on March 3, and the stock's consensus rating is "Moderate Buy" (one Strong Buy, two Holds).
• Key fundamentals: market capitalization $14.42 billion, P/E 13.52, 50-day/200-day simple moving averages $21.12/$18.42; Asahi Kasei is a diversified Japanese manufacturer operating in chemicals, homes, healthcare and electronics.

Asahi Kasei Corp. (OTCMKTS:AHKSY - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $19.44, but opened at $20.5650. Asahi Kasei shares last traded at $20.55, with a volume of 5,111 shares.

Analyst Ratings Changes

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

Asahi Kasei Trading Down 1.0%

The stock has a market capitalization of $14.42 billion, a price-to-earnings ratio of 13.52 and a beta of 0.47. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.11 and a quick ratio of 1.23. The business's 50-day simple moving average is $21.12 and its two-hundred day simple moving average is $18.42.

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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