Zacks Investment Research upgraded shares of The Hong Kong and China Gas Co. (NASDAQ:HOKCY) from a sell rating to a hold rating in a report released on Wednesday.

According to Zacks, “THE HONG KONG AND CHINA GAS COMPANY LIMITED (Towngas) was the first public utility in Hong Kong. Currently, with more than 3,000 km of pipeline network and an 85% economic reach, the Company supplies town gas to over 1.5 million customers in the territory. Their core business comprises production and distribution of gas, marketing of gas and appliances, and comprehensive after-sales services. In recent years, Towngas has diversified into various green businesses including LPG filling stations and utilization of landfill gas. “

Shares of The Hong Kong and China Gas (NASDAQ:HOKCY) opened at 1.86 on Wednesday. The company’s 50 day moving average price is $1.85 and its 200 day moving average price is $1.76. The Hong Kong and China Gas has a 52-week low of $1.48 and a 52-week high of $2.00. The stock has a market capitalization of $23.65 billion and a PE ratio of 24.47.

About The Hong Kong and China Gas

The Hong Kong and China Gas Company Limited (Towngas) is engaged in producing, distributing and marketing of gas; water supply, and energy businesses in Hong Kong and mainland China. The Company’s business in Hong Kong consists of production and distribution of gas, marketing and sale of gas, the sale of gas appliances, as well as providing after-sales services.

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