Asahi Kasei (OTCMKTS:AHKSY) Shares Gap Down – Should You Sell?

Asahi Kasei Corp. (OTCMKTS:AHKSY)’s share price gapped down before the market opened on Monday . The stock had previously closed at $20.18, but opened at $19.01. Asahi Kasei shares last traded at $19.1435, with a volume of 3,462 shares traded.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Asahi Kasei to a “hold” rating in a research note on Thursday, October 30th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Asahi Kasei Stock Performance

The company has a 50-day moving average price of $17.99 and a two-hundred day moving average price of $16.50. The company has a quick ratio of 1.26, a current ratio of 2.20 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $13.40 billion, a P/E ratio of 14.04 and a beta of 0.41.

Asahi Kasei (OTCMKTS:AHKSY) last posted its earnings results on Wednesday, November 5th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.03). Asahi Kasei had a return on equity of 7.41% and a net margin of 4.64%.The firm had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $5.12 billion.

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.