Hong Kong & China Gas (OTCMKTS:HOKCY) Shares Gap Down – Here’s Why

Hong Kong & China Gas Co. (OTCMKTS:HOKCY)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $0.9468, but opened at $0.8135. Hong Kong & China Gas shares last traded at $0.8135, with a volume of 4,074 shares traded.

Hong Kong & China Gas Trading Down 2.7%

The firm has a 50 day moving average of $0.89 and a 200-day moving average of $0.86. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 0.63.

Institutional Trading of Hong Kong & China Gas

A hedge fund recently raised its stake in Hong Kong & China Gas stock. Rhumbline Advisers increased its stake in shares of Hong Kong & China Gas Co. (OTCMKTS:HOKCY) by 26.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (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 SEC filing.

Hong Kong & China Gas Company Profile

The Hong Kong and China Gas Company Limited, commonly known as Towngas, is a long-established utility and energy services company founded in 1862. It is principally engaged in the production, distribution and sale of town gas and related energy products, serving residential, commercial and industrial customers. Towngas operates through an integrated model that covers gas production facilities, transmission and distribution networks, customer metering and billing, and after-sales services.

Core products and services include piped town gas for household and commercial use, liquefied petroleum gas (LPG) distribution, gas appliances and fittings, and engineering, installation and maintenance services.