Hong Kong & China Gas (OTCMKTS:HOKCY) Shares Gap Up – Still a Buy?

Hong Kong & China Gas Co. (OTCMKTS:HOKCY) gapped up prior to trading on Thursday . The stock had previously closed at $0.8216, but opened at $0.9048. Hong Kong & China Gas shares last traded at $0.9048, with a volume of 118 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Hong Kong & China Gas to a “hold” rating in a research report on Friday, August 21st. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Hong Kong & China Gas Stock Performance

The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 0.61. The business’s 50-day moving average price is $0.85 and its 200-day moving average price is $0.88.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Hong Kong & China Gas stock. Rhumbline Advisers raised its holdings in Hong Kong & China Gas Co. (OTCMKTS:HOKCY) by 26.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 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.