Asahi Kasei Corp. (OTCMKTS:AHKSY) Sees Large Increase in Short Interest

Asahi Kasei Corp. (OTCMKTS:AHKSY) was the recipient of a significant growth in short interest in May. As of May 29th, there was short interest totaling 90,377 shares, a growth of 327.8% from the May 14th total of 21,127 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 60,287 shares, the days-to-cover ratio is presently 1.5 days.

Asahi Kasei Stock Performance

OTCMKTS AHKSY opened at $21.70 on Thursday. The firm has a market capitalization of $15.13 billion, a P/E ratio of 14.09 and a beta of 0.52. Asahi Kasei has a 1-year low of $12.71 and a 1-year 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 business’s 50-day simple moving average is $20.61 and its 200-day simple moving average is $19.89.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. The Goldman Sachs Group upgraded Asahi Kasei from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. Zacks Research cut Asahi Kasei from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy”.

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.