CLP (OTCMKTS:CLPHY) Shares Gap Up – Should You Buy?

CLP Holdings Ltd. (OTCMKTS:CLPHY)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $9.30, but opened at $9.68. CLP shares last traded at $9.5050, with a volume of 39,199 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CLPHY. Citigroup downgraded shares of CLP from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Zacks Research upgraded shares of CLP to a “hold” rating in a report on Thursday, February 26th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

CLP Stock Performance

The company has a quick ratio of 0.48, a current ratio of 0.59 and a debt-to-equity ratio of 0.44. The business has a fifty day moving average price of $9.64 and a 200 day moving average price of $9.42.

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.