ASICS (OTCMKTS:ASCCF) Shares Down 2.5% – Here’s Why

Shares of ASICS Co. (OTCMKTS:ASCCF) dropped 2.5% during trading on Thursday . The stock traded as low as $28.35 and last traded at $28.35. Approximately 1,768 shares changed hands during mid-day trading, an increase of 64% from the average session volume of 1,077 shares. The stock had previously closed at $29.09.

Wall Street Analysts Forecast Growth

Separately, Sanford C. Bernstein initiated coverage on shares of ASICS in a research report on Tuesday, May 26th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, ASICS has an average rating of “Buy”.

ASICS Stock Performance

The company has a 50 day simple moving average of $28.85 and a 200 day simple moving average of $27.21.

About ASICS

ASICS Corporation is a Japanese multinational corporation specializing in the design, manufacture and marketing of athletic footwear, apparel and accessories. Headquartered in Kobe, Japan, the company was founded in 1949 by Kihachiro Onitsuka under the name Onitsuka Co, Ltd. It adopted the ASICS name in 1977, an acronym derived from the Latin phrase “Anima Sana In Corpore Sano” (“A Sound Mind in a Sound Body”), reflecting its long-standing commitment to promoting healthy living through sport.

The company’s primary business activities encompass research, development and production of performance-driven running shoes, cross-training sneakers, sportswear and related accessories.