Short Interest in Asahi Kasei Corp. (OTCMKTS:AHKSY) Drops By 64.8%

Asahi Kasei Corp. (OTCMKTS:AHKSY) was the recipient of a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 25,913 shares, a decrease of 64.8% from the June 30th total of 73,700 shares. Based on an average trading volume of 67,252 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.0% of the company’s shares are sold short.

Asahi Kasei Price Performance

Shares of OTCMKTS AHKSY opened at $22.54 on Monday. The company has a quick ratio of 1.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.40. The firm has a market cap of $15.71 billion, a PE ratio of 14.64 and a beta of 0.53. The company’s fifty day simple moving average is $22.26 and its 200 day simple moving average is $21.06. Asahi Kasei has a 12-month low of $13.46 and a 12-month high of $24.12.

Wall Street Analyst Weigh In

Separately, Zacks Research lowered shares of Asahi Kasei from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock 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.