Asahi Kasei Corp. (OTCMKTS:AHKSY) Sees Large Increase in Short Interest

Asahi Kasei Corp. (OTCMKTS:AHKSY) was the target of a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 90,377 shares, an increase of 327.8% from the May 14th total of 21,127 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 60,287 shares, the days-to-cover ratio is currently 1.5 days.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Zacks Research downgraded Asahi Kasei from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. The Goldman Sachs Group upgraded 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 one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Asahi Kasei Trading Up 2.0%

Shares of Asahi Kasei stock opened at $21.70 on Thursday. The company has a quick ratio of 1.23, a current ratio of 2.11 and a debt-to-equity ratio of 0.42. The firm has a market cap of $15.13 billion, a price-to-earnings ratio of 14.09 and a beta of 0.52. The business has a fifty day simple moving average of $20.61 and a 200-day simple moving average of $19.89. Asahi Kasei has a fifty-two week low of $12.71 and a fifty-two week high of $24.12.

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.