Kunlun Energy (OTCMKTS:KLYCY) Shares Gap Down – Here’s What Happened

Shares of Kunlun Energy (OTCMKTS:KLYCY) gapped down prior to trading on Monday. The stock had previously closed at $10.1240, but opened at $9.52. Kunlun Energy shares last traded at $9.52, with a volume of 785 shares changing hands.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Kunlun Energy from a “strong sell” rating to a “hold” rating in a report on Monday, September 14th. One research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Kunlun Energy Trading Down 6.0%

The company’s 50-day moving average is $9.53 and its two-hundred day moving average is $9.35.

About Kunlun Energy

Kunlun Energy Company Limited is a China-focused natural gas company and a subsidiary of China National Petroleum Corporation (CNPC). Through its operating businesses, the company supplies natural gas to residential, commercial and industrial customers and supports the development of natural gas infrastructure.

Its activities include natural gas sales and distribution, pipeline transmission, liquefied natural gas processing and related storage and transportation services. Kunlun Energy also participates in compressed natural gas and other gas-related projects, serving customers across multiple regions of mainland China.

The company has historical ties to CNPC’s natural gas distribution operations and is incorporated in Hong Kong, with its principal business activities conducted in China.