Asahi Kasei Corp. (OTCMKTS:AHKSY) Short Interest Update

Asahi Kasei Corp. (OTCMKTS:AHKSY) saw a significant 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 shares of the company are short sold. Based on an average daily volume of 60,287 shares, the days-to-cover ratio is currently 1.5 days.

Asahi Kasei Trading Up 1.9%

Shares of Asahi Kasei stock opened at $22.12 on Friday. Asahi Kasei has a 52-week low of $12.71 and a 52-week high of $24.12. The company has a quick ratio of 1.23, a current ratio of 2.35 and a debt-to-equity ratio of 0.40. The company’s 50-day simple moving average is $20.67 and its 200-day simple moving average is $19.93. The firm has a market cap of $15.42 billion, a price-to-earnings ratio of 14.36 and a beta of 0.52.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. The Goldman Sachs Group upgraded shares of Asahi Kasei from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. Zacks Research lowered shares of Asahi Kasei from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy”.

Asahi Kasei Company Profile

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.