Asahi Kasei (OTCMKTS:AHKSY) Share Price Crosses Above 50-Day Moving Average – What’s Next?

Asahi Kasei Corp. (OTCMKTS:AHKSY) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $13.71 and traded as high as $14.18. Asahi Kasei shares last traded at $14.05, with a volume of 17,036 shares changing hands.

Analyst Ratings Changes

Separately, CLSA cut shares of Asahi Kasei from a “moderate buy” rating to a “hold” rating in a research note on Thursday, June 5th.

Asahi Kasei Price Performance

The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.09 and a current ratio of 1.83. The company has a 50-day moving average price of $13.71 and a 200-day moving average price of $13.66. The firm has a market capitalization of $9.79 billion, a P/E ratio of 10.98 and a beta of 0.47.

Asahi Kasei (OTCMKTS:AHKSY) last issued its earnings results on Friday, May 9th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.14. The firm had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.21 billion. Asahi Kasei had a return on equity of 7.03% and a net margin of 4.44%.

Asahi Kasei Company Profile

Asahi Kasei Corporation manufactures and sells chemicals. It offers caustic soda, chemical fertilizers, nitric acid, ammonia, acrylonitrile, methyl methacrylate, styrene, adipic acid, hexamethylene diamine, AH salt, propionitrile, sodium cyanide, acetonitrile, methacrylonitrile, cyclohexyl methacrylate, polyethylenes, polyethylenes powder, PMMA resin, polystyrene, polybutadiene rubbers, styrene/butadiene rubbers, clear styrenic copolymer, styrenic thermoplastic elastomer, hydrogenated styrenic elastomers, membranes and systems, functional materials, foams, purging compound, polyisocyanates, polycarbonatediol, aluminum paste, latex, photopolymers and platemaking systems, films, cyclohexanol, cyclohexane, and cyclohexene.