Asahi Kasei (OTCMKTS:AHKSY) Shares Gap Up – What’s Next?

Asahi Kasei Corp. (OTCMKTS:AHKSY) shares gapped up prior to trading on Thursday . The stock had previously closed at $19.56, but opened at $20.92. Asahi Kasei shares last traded at $20.5020, with a volume of 1,058 shares traded.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upgraded shares of Asahi Kasei from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Asahi Kasei Stock Up 3.7%

The company has a debt-to-equity ratio of 0.42, a current ratio of 2.11 and a quick ratio of 1.23. The firm has a market capitalization of $14.14 billion, a P/E ratio of 13.26 and a beta of 0.47. The company’s 50-day simple moving average is $21.17 and its two-hundred day simple moving average is $18.56.

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.