Asahi Kasei (OTCMKTS:AHKSY) Stock Price Passes Above 50-Day Moving Average – What’s Next?

Asahi Kasei Corp. (OTCMKTS:AHKSY)’s share price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $19.17 and traded as high as $22.74. Asahi Kasei shares last traded at $22.74, with a volume of 18,218 shares traded.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of Asahi Kasei to a “hold” rating in a report on Thursday, October 30th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Asahi Kasei Stock Down 0.6%

The company’s 50 day simple moving average is $19.17 and its 200-day simple moving average is $17.17. The company has a current ratio of 2.20, a quick ratio of 1.26 and a debt-to-equity ratio of 0.46. The firm has a market cap of $15.85 billion, a P/E ratio of 14.86 and a beta of 0.43.

About Asahi Kasei

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.