Hong Kong & China Gas (OTCMKTS:HOKCY) Trading Up 9.4% – Here’s What Happened

Hong Kong & China Gas Co. (OTCMKTS:HOKCY) shares traded up 9.4% during mid-day trading on Friday . The stock traded as high as $0.8985 and last traded at $0.8985. 1,101 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 14,089 shares. The stock had previously closed at $0.8212.

Analysts Set New Price Targets

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

Hong Kong & China Gas Price Performance

The business has a 50 day moving average price of $0.85 and a two-hundred day moving average price of $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.

Institutional Investors Weigh In On Hong Kong & China Gas

An institutional investor recently raised its position in Hong Kong & China Gas stock. Rhumbline Advisers increased its holdings in Hong Kong & China Gas Co. (OTCMKTS:HOKCY) by 26.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,441 shares of the company’s stock after purchasing 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 filing with the Securities and Exchange Commission (SEC).

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.