Asahi Kasei (OTCMKTS:AHKSY) Stock Price Passes Below Fifty Day Moving Average – Should You Sell?

Asahi Kasei Corp. (OTCMKTS:AHKSY)’s share price crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $16.02 and traded as low as $16.00. Asahi Kasei shares last traded at $16.00, with a volume of 8,226 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Asahi Kasei to a “hold” rating in a research note on Thursday, October 30th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Asahi Kasei Price Performance

The company has a current ratio of 1.81, a quick ratio of 1.06 and a debt-to-equity ratio of 0.44. The company has a market cap of $11.15 billion, a price-to-earnings ratio of 13.79 and a beta of 0.46. The business has a 50-day moving average price of $16.02 and a 200 day moving average price of $15.12.

Asahi Kasei (OTCMKTS:AHKSY) last announced its earnings results on Wednesday, November 5th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.03). Asahi Kasei had a return on equity of 7.41% and a net margin of 3.95%.The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.12 billion.

About Asahi Kasei

Asahi Kasei Corporation manufactures and sells chemicals. It offers caustic soda, chemical fertilizers, nitric acid, ammonia, acrylonitrile, methyl methacrylate, styrene, adipic acid, hexamethylene diamine, AH salt, propionitrile, sodium cyanide, acetonitrile, methacrylonitrile, cyclohexyl methacrylate, polyethylenes, polyethylenes powder, PMMA resin, polystyrene, polybutadiene rubbers, styrene/butadiene rubbers, clear styrenic copolymer, styrenic thermoplastic elastomer, hydrogenated styrenic elastomers, membranes and systems, functional materials, foams, purging compound, polyisocyanates, polycarbonatediol, aluminum paste, latex, photopolymers and platemaking systems, films, cyclohexanol, cyclohexane, and cyclohexene.