Asahi Kasei (OTCMKTS:AHKSY) Stock Price Passes Above Fifty Day Moving Average - What's Next?

Key Points

• Asahi Kasei's stock price surpassed its fifty-day moving average of $14.39, reaching a high of $16.38 during trading, with the last recorded price at $16.37.
• Analysts from CLSA downgraded the stock from a "moderate buy" to a "hold" rating, contributing to a current consensus rating of "Hold" among research analysts.
• In its latest earnings report, Asahi Kasei reported an EPS of $0.45, exceeding analysts' expectations of $0.27, although the company's revenue fell short of the consensus estimate.

Asahi Kasei Corp. (OTCMKTS:AHKSY - Get Free Report) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $14.39 and traded as high as $16.38. Asahi Kasei shares last traded at $16.37, with a volume of 11,420 shares traded.

Analyst Ratings Changes

Separately, CLSA lowered Asahi Kasei from a "moderate buy" rating to a "hold" rating in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold".

Asahi Kasei Stock Performance

The stock has a 50-day simple moving average of $14.39 and a 200 day simple moving average of $13.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 1.09. The company has a market capitalization of $11.41 billion, a PE ratio of 14.11 and a beta of 0.51.

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

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