Hong Kong & China Gas (OTCMKTS:HOKCY) Shares Gap Up – Here’s Why

Hong Kong & China Gas Co. (OTCMKTS:HOKCY)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $0.8216, but opened at $0.9048. Hong Kong & China Gas shares last traded at $0.9048, with a volume of 118 shares trading hands.

Wall Street Analyst Weigh In

Separately, Zacks Research raised Hong Kong & China Gas to a “hold” rating in a report on Friday, August 21st. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Hong Kong & China Gas Price Performance

The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 0.61. The stock has a fifty day moving average of $0.85 and a 200-day moving average of $0.88.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Hong Kong & China Gas stock. Rhumbline Advisers lifted its stake 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 fund owned 131,441 shares of the company’s stock after buying an additional 27,860 shares during the period. Rhumbline Advisers’ holdings in Hong Kong & China Gas were worth $107,000 at the end of the most recent quarter.

About Hong Kong & China Gas

Hong Kong & China Gas Company Limited, commonly known as Towngas, is a Hong Kong-based energy and utility company. Established in 1862, it operates Hong Kong’s piped-gas supply network and provides natural gas and related energy services to residential, commercial and industrial customers.

The company distributes town gas and natural gas, supplies liquefied petroleum gas, and sells gas appliances and household products. Its activities also include gas engineering, infrastructure development, energy management and the development of lower-carbon and renewable energy solutions.

Beyond Hong Kong, Towngas has expanded into mainland China, where it operates city-gas and related utility businesses in numerous urban markets.