Asahi Glass (OTCMKTS:ASGLY) Shares Gap Down – Here’s Why

Asahi Glass Co. Ltd. (OTCMKTS:ASGLY)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $7.68, but opened at $6.86. Asahi Glass shares last traded at $6.86, with a volume of 454 shares traded.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised shares of Asahi Glass to a “hold” rating in a research note on Wednesday, June 17th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Asahi Glass Price Performance

The stock has a fifty day moving average price of $8.02 and a 200-day moving average price of $7.84. The firm has a market capitalization of $7.74 billion, a PE ratio of 12.95 and a beta of 0.49. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.76 and a current ratio of 1.41.

About Asahi Glass

Asahi Glass Co, Ltd., operating under the global brand AGC Inc, is a leading manufacturer of glass, chemicals and high‐performance materials. The company’s core business includes architectural and automotive glass, display glass for liquid crystal displays and semiconductor fabrication equipment, as well as fluorochemicals, ceramics and specialty materials. Through these diverse product lines, Asahi Glass serves markets ranging from construction and automotive to electronics and chemical processing.

Founded in 1907 as Japan’s first sheet glass producer, Asahi Glass has grown into a multinational enterprise with operations spanning Asia, Europe, North America and beyond.