Asahi Glass Co. Ltd. (OTCMKTS:ASGLY) Sees Large Decline in Short Interest

Asahi Glass Co. Ltd. (OTCMKTS:ASGLY) was the recipient of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 1,096 shares, a decrease of 69.4% from the July 15th total of 3,584 shares. Based on an average daily volume of 9,547 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Asahi Glass to a “hold” rating in a research note on Wednesday, June 17th. One research 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 Trading Up 2.1%

Shares of Asahi Glass stock opened at $7.22 on Thursday. The firm’s 50 day moving average is $8.24 and its 200 day moving average is $7.83. The firm has a market capitalization of $7.85 billion, a PE ratio of 13.13 and a beta of 0.49. Asahi Glass has a 1 year low of $5.87 and a 1 year high of $10.69. The company has a current ratio of 1.41, a quick ratio of 0.76 and a debt-to-equity ratio of 0.26.

Asahi Glass (OTCMKTS:ASGLY) last issued its earnings results on Tuesday, May 12th. The company reported $0.14 earnings per share for the quarter. The firm had revenue of $3.43 billion for the quarter. Asahi Glass had a net margin of 4.22% and a return on equity of 5.26%. Equities research analysts forecast that Asahi Glass will post 0.46 earnings per share for the current fiscal year.

Asahi Glass Company Profile

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.