Kunlun Energy (OTCMKTS:KLYCY) Shares Gap Up – Still a Buy?

Kunlun Energy (OTCMKTS:KLYCY)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $8.75, but opened at $9.24. Kunlun Energy shares last traded at $9.24, with a volume of 228 shares traded.

Analysts Set New Price Targets

Separately, Zacks Research downgraded Kunlun Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, July 20th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Kunlun Energy presently has an average rating of “Sell”.

Kunlun Energy Trading Up 5.6%

The firm’s 50-day simple moving average is $8.65 and its 200-day simple moving average is $9.58. The company has a quick ratio of 1.70, a current ratio of 1.73 and a debt-to-equity ratio of 0.15.

About Kunlun Energy

Kunlun Energy Company Limited is a China-based energy company engaged primarily in the exploration, production, distribution and sales of natural gas and crude oil. As a publicly traded entity on the Hong Kong Stock Exchange and the OTC Markets under the ticker KLYCY, the company focuses on developing upstream reserves in key basins across northwest China, including the Tarim, Junggar and Turpan–Hami basins. Kunlun Energy’s upstream activities are supported by a combination of proprietary drilling technologies and strategic partnerships that enable it to target both conventional and unconventional hydrocarbon resources.

In its midstream operations, Kunlun Energy has established an extensive pipeline network that links its production areas to major consumption centers.