CLP (OTCMKTS:CLPHY) Shares Gap Up – Should You Buy?

CLP Holdings Ltd. (OTCMKTS:CLPHY)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $9.30, but opened at $9.68. CLP shares last traded at $9.5050, with a volume of 39,199 shares.

Analysts Set New Price Targets

Several research firms have weighed in on CLPHY. Zacks Research raised CLP to a “hold” rating in a research note on Thursday, February 26th. Citigroup cut CLP from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

CLP Trading Up 0.6%

The company has a current ratio of 0.59, a quick ratio of 0.48 and a debt-to-equity ratio of 0.44. The business’s 50-day moving average price is $9.64 and its two-hundred day moving average price is $9.42.

About CLP

CLP Holdings Limited (OTCMKTS: CLPHY) is an investor?owned electric utility headquartered in Hong Kong. The company’s core activities include the generation, transmission and distribution of electricity as well as the retailing of energy to residential, commercial and industrial customers. CLP’s generation portfolio is diversified across conventional and low?carbon technologies, and the company supplements its core utility operations with energy services such as demand management, distributed energy solutions and infrastructure development.

Founded in the early 20th century as China Light & Power, CLP has developed into one of the region’s long?standing power companies and conducts operations and investments across the Asia?Pacific region.