Asahi Kasei (OTCMKTS:AHKSY) Stock Price Up 12.6% – Time to Buy?

Asahi Kasei Corp. (OTCMKTS:AHKSY)’s stock price rose 12.6% on Wednesday . The stock traded as high as $22.03 and last traded at $22.03. Approximately 4,687 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 30,294 shares. The stock had previously closed at $19.56.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AHKSY. Zacks Research raised Asahi Kasei from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. The Goldman Sachs Group raised Asahi Kasei from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Asahi Kasei Trading Up 7.9%

The stock has a fifty day moving average of $20.08 and a two-hundred day moving average of $19.04. The company has a current ratio of 2.11, a quick ratio of 1.23 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $15.70 billion, a PE ratio of 14.72 and a beta of 0.49.

Asahi Kasei Company Profile

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.