Idemitsu Kosan Co.,Ltd. (OTCMKTS:IDKOY) Shares Gap Up - Time to Buy?

Key Points

• Gapped up: Idemitsu Kosan opened at $20.34 after a prior close of $19.555, but only 302 shares traded, suggesting the move occurred on thin OTC volume.
• The stock is trading above key technicals with a 50-day moving average of $18.53 and a 200-day moving average of $15.91, indicating short- and long-term strength.
• Fundamentals show a market cap of $12.45 billion and an unusually low P/E ratio of 0.38; the company is a major Japanese refiner and petrochemical feedstock producer.

Idemitsu Kosan Co.,Ltd. (OTCMKTS:IDKOY - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $19.5550, but opened at $20.34. Idemitsu Kosan Co.,Ltd. shares last traded at $20.34, with a volume of 302 shares trading hands.

Idemitsu Kosan Co.,Ltd. Stock Performance

The business has a 50 day moving average price of $18.53 and a two-hundred day moving average price of $15.91. The company has a market cap of $12.45 billion and a P/E ratio of 0.38.

Idemitsu Kosan Co.,Ltd. Company Profile

Idemitsu Kosan Co, Ltd. is a Japanese energy company primarily engaged in the refining of crude oil and the production of petroleum products. Established in 1911 by Sazo Idemitsu, the company has grown into one of Japan’s leading refiners, supplying gasoline, diesel, jet fuel and kerosene to both industrial and retail customers. Its core refining operations are supported by a network of domestic refineries that process a wide range of crude oils.

In addition to its downstream refining business, Idemitsu Kosan manufactures petrochemical feedstocks used in the production of plastics, synthetic rubbers and other chemical intermediates.

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