Asahi Kasei (OTCMKTS:AHKSY) Stock Falls 4.5% – Here’s What Happened

Asahi Kasei Corp. (OTCMKTS:AHKSY)’s stock price fell 4.5% during trading on Friday. The company traded as low as $19.98 and last traded at $20.02. 1,517 shares were traded during trading, a decline of 95% from the average daily volume of 31,978 shares. The stock had previously closed at $20.97.

Analyst Ratings Changes

Separately, The Goldman Sachs Group downgraded Asahi Kasei from a “buy” rating to a “neutral” rating in a research note on Thursday. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Asahi Kasei Stock Down 1.9%

The company has a market capitalization of $13.94 billion, a price-to-earnings ratio of 10.87 and a beta of 0.57. The business has a fifty day simple moving average of $20.72 and a two-hundred day simple moving average of $21.08. The company has a quick ratio of 1.12, a current ratio of 2.01 and a debt-to-equity ratio of 0.42.

Asahi Kasei Company Profile

Asahi Kasei Corporation is a diversified Japanese manufacturer serving the material, homes and health care markets. Founded in 1922 and headquartered in Tokyo, the company develops and supplies products ranging from chemicals and performance materials to medical devices and housing-related goods and services.

Its materials operations include petrochemical products, synthetic resins, elastomers, coatings and electronic materials, as well as battery separators and other components used in automobiles, electronics and industrial applications.