CLP (OTCMKTS:CLPHY) Shares Gap Up – Here’s Why

CLP Holdings Ltd. (OTCMKTS:CLPHY) gapped up before the market opened on Thursday . The stock had previously closed at $9.50, but opened at $9.79. CLP shares last traded at $9.5850, with a volume of 4,477 shares.

Analyst Upgrades and Downgrades

CLPHY has been the subject of a number of research analyst reports. Zacks Research raised shares of CLP to a “hold” rating in a research report on Thursday, February 26th. Citigroup lowered shares of CLP from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

CLP Price Performance

The company has a 50 day moving average of $9.56 and a 200 day moving average of $8.96. The company has a quick ratio of 0.54, a current ratio of 0.67 and a debt-to-equity ratio of 0.45.

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.