Resonac (OTCMKTS:SHWDY) Shares Gap Down – Here’s What Happened

Shares of Resonac Holdings Corporation Unsponsored ADR (OTCMKTS:SHWDY) gapped down prior to trading on Wednesday. The stock had previously closed at $108.87, but opened at $94.00. Resonac shares last traded at $94.00, with a volume of 154 shares.

Resonac Stock Down 13.7%

The business’s 50 day simple moving average is $101.54 and its 200-day simple moving average is $98.94. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.14 and a current ratio of 1.54. The company has a market cap of $17.97 billion, a price-to-earnings ratio of 51.20 and a beta of 0.76.

Resonac (OTCMKTS:SHWDY) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.03 earnings per share for the quarter. Resonac had a net margin of 4.05% and a return on equity of 7.54%. The business had revenue of $2.32 billion for the quarter.

About Resonac

Resonac Holdings Corporation is a Japan-based chemical and materials company formerly known as Showa Denko. The company was rebranded as Resonac in 2023 following the integration of Showa Denko and Showa Denko Materials, which was previously known as Hitachi Chemical.

Resonac develops and manufactures advanced materials and chemical products used in semiconductor and electronic applications, mobility, energy, and industrial markets. Its offerings include semiconductor packaging materials, silicon carbide and other semiconductor-related materials, graphite electrodes, battery materials, specialty chemicals, petrochemical products, and high-performance resins and films.

The company serves customers in Japan and international markets through a global manufacturing, research, and sales network.