Asahi Kasei (OTCMKTS:AHKSY) Share Price Passes Below 50-Day Moving Average of $22.94

Shares of Asahi Kasei Co. (OTCMKTS:AHKSY) passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $22.94 and traded as low as $22.32. Asahi Kasei shares last traded at $22.59, with a volume of 40,402 shares changing hands.

Several analysts recently issued reports on the stock. Jefferies Financial Group cut shares of Asahi Kasei from a “buy” rating to a “hold” rating in a report on Wednesday, February 10th. Zacks Investment Research upgraded shares of Asahi Kasei from a “sell” rating to a “hold” rating in a research report on Friday, March 12th. Finally, The Goldman Sachs Group raised shares of Asahi Kasei from a “buy” rating to a “conviction-buy” rating in a report on Thursday, March 11th.

The firm’s 50 day simple moving average is $22.94 and its 200-day simple moving average is $20.52. The company has a market capitalization of $15.83 billion, a price-to-earnings ratio of 20.28 and a beta of 0.96. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 1.63.

Asahi Kasei (OTCMKTS:AHKSY) last issued its earnings results on Tuesday, February 9th. The company reported $0.57 EPS for the quarter. The business had revenue of $5.24 billion during the quarter. Asahi Kasei had a return on equity of 8.80% and a net margin of 4.05%. As a group, equities analysts anticipate that Asahi Kasei Co. will post 1.28 earnings per share for the current fiscal year.

About Asahi Kasei (OTCMKTS:AHKSY)

Asahi Kasei Corporation manufactures, processes, and sells chemical products in Japan and internationally. The company operates through three segments: Material, Homes, and Health Care. It offers cupro fiber, lining fabric, stretch fiber, spunbond nonwoven, cupro nonwoven fabric, microfiber suede, oil-water separator, multifunctional nonwoven, deodorizing nonwoven, heat-press formable thermoplastic nonwoven, noise suppression sheet, filament, flame-resistant fiber, honeycomb fabric, and cellulose nanobead products.

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