Asahi Kasei (OTCMKTS:AHKSY) Shares Pass Above Fifty Day Moving Average – What’s Next?

Asahi Kasei Corp. (OTCMKTS:AHKSY) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $22.22 and traded as high as $23.75. Asahi Kasei shares last traded at $23.4270, with a volume of 17,713 shares trading hands.

Analyst Ratings Changes

Separately, Zacks Research cut shares of Asahi Kasei from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Asahi Kasei Stock Down 0.8%

The firm’s 50-day simple moving average is $22.23 and its 200 day simple moving average is $20.99. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.35 and a current ratio of 2.35. The stock has a market capitalization of $15.77 billion, a P/E ratio of 14.69 and a beta of 0.53.

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.