Short Interest in Asahi Kasei Corp. (OTCMKTS:AHKSY) Increases By 193.4%

Asahi Kasei Corp. (OTCMKTS:AHKSY) was the recipient of a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 21,127 shares, a growth of 193.4% from the April 30th total of 7,201 shares. Based on an average trading volume of 58,399 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.0% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

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

Asahi Kasei Stock Up 0.7%

Shares of OTCMKTS:AHKSY opened at $22.32 on Friday. The stock has a market capitalization of $15.56 billion, a price-to-earnings ratio of 14.49 and a beta of 0.49. Asahi Kasei has a 1-year low of $12.71 and a 1-year high of $24.12. The company’s fifty day moving average is $20.20 and its two-hundred day moving average is $19.56. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.23 and a current ratio of 2.11.

About Asahi Kasei

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.