Hong Kong & China Gas (OTCMKTS:HOKCY) Shares Gap Up – Time to Buy?

Shares of Hong Kong & China Gas Co. (OTCMKTS:HOKCY) gapped up prior to trading on Wednesday . The stock had previously closed at $0.7916, but opened at $0.8450. Hong Kong & China Gas shares last traded at $0.8450, with a volume of 861 shares trading hands.

Hong Kong & China Gas Trading Up 6.7%

The firm’s fifty day moving average is $0.85 and its two-hundred day moving average is $0.88. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 0.61.

Hedge Funds Weigh In On Hong Kong & China Gas

A hedge fund recently raised its position in Hong Kong & China Gas stock. Rhumbline Advisers lifted its holdings in Hong Kong & China Gas Co. (OTCMKTS:HOKCY) by 26.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,441 shares of the company’s stock after buying an additional 27,860 shares during the quarter. Rhumbline Advisers’ holdings in Hong Kong & China Gas were worth $107,000 as of its most recent SEC filing.

About Hong Kong & China Gas

The Hong Kong and China Gas Company Limited, commonly known as Towngas, is a long-established utility and energy services company founded in 1862. It is principally engaged in the production, distribution and sale of town gas and related energy products, serving residential, commercial and industrial customers. Towngas operates through an integrated model that covers gas production facilities, transmission and distribution networks, customer metering and billing, and after-sales services.

Core products and services include piped town gas for household and commercial use, liquefied petroleum gas (LPG) distribution, gas appliances and fittings, and engineering, installation and maintenance services.