Towngas China Company Limited (OTCMKTS:TGASF) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 2,100 shares, a decrease of 79.4% from the August 15th total of 10,200 shares. Based on an average daily trading volume, of 2,400 shares, the days-to-cover ratio is presently 0.9 days.
OTCMKTS:TGASF remained flat at $$0.65 during trading on Wednesday. The company’s stock had a trading volume of 1,200 shares, compared to its average volume of 6,163. The firm’s 50 day moving average price is $0.67. Towngas China has a 52-week low of $0.39 and a 52-week high of $0.77.
Separately, DBS Vickers upgraded Towngas China from a “hold” rating to a “buy” rating and set a $6.10 price target for the company in a report on Monday, August 23rd.
Towngas China Company Limited, an investment holding company, sells and distributes piped gas in the People's Republic of China. The company operates through two segments, Sales and Distribution of Piped Gas and Related Products, and Gas Connection. It engages in the provision of piped gas; construction of gas pipelines; operation of city gas pipeline network; operation of gas fuel automobile refilling stations; and sale of gas household appliances.
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