Ajinomoto Co. (OTCMKTS:AJINY – Get Free Report) shares gapped down prior to trading on Wednesday after Sanford C. Bernstein downgraded the stock from a strong-buy rating to a hold rating. The stock had previously closed at $31.20, but opened at $29.30. Ajinomoto shares last traded at $29.17, with a volume of 6,465 shares changing hands.
Ajinomoto Stock Down 0.6%
The company has a current ratio of 1.51, a quick ratio of 0.89 and a debt-to-equity ratio of 0.50. The business’s fifty day moving average price is $24.74 and its two-hundred day moving average price is $25.68. The firm has a market cap of $28.61 billion, a P/E ratio of 35.25 and a beta of 0.50.
About Ajinomoto
Ajinomoto Co, Inc is a Tokyo-based multinational food and chemical company best known for commercializing monosodium glutamate (MSG) after Professor Kikunae Ikeda identified the flavor enhancer associated with umami in the early 20th century; the company was founded in 1909. Over more than a century it has grown from its seasoning roots into a diversified group that develops, manufactures and markets food products, seasonings and ingredient solutions for both retail and foodservice customers.
Today Ajinomoto’s activities span prepared and frozen foods, retail seasonings and condiments, and a broad range of amino acid-based products and specialty chemicals.
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