Short Interest in Asahi Kasei Corp. (OTCMKTS:AHKSY) Increases By 193.4%

Asahi Kasei Corp. (OTCMKTS:AHKSY) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 21,127 shares, a growth of 193.4% from the April 30th total of 7,201 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily volume of 58,399 shares, the days-to-cover ratio is presently 0.4 days.

Wall Street Analyst Weigh In

AHKSY has been the subject of several analyst reports. The Goldman Sachs Group upgraded shares of Asahi Kasei from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. Zacks Research downgraded shares of Asahi Kasei from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

Asahi Kasei Trading Up 0.7%

OTCMKTS AHKSY opened at $22.32 on Friday. Asahi Kasei has a 12 month low of $12.71 and a 12 month high of $24.12. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.11 and a quick ratio of 1.23. The company has a market capitalization of $15.56 billion, a price-to-earnings ratio of 14.49 and a beta of 0.49. The company’s fifty day moving average price is $20.20 and its two-hundred day moving average price is $19.56.

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.