Hong Kong & China Gas (OTCMKTS:HOKCY) Shares Gap Down – Time to Sell?

Hong Kong & China Gas Co. (OTCMKTS:HOKCY) gapped down before the market opened on Wednesday . The stock had previously closed at $0.99, but opened at $0.9050. Hong Kong & China Gas shares last traded at $0.9050, with a volume of 175 shares.

Analysts Set New Price Targets

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

Hong Kong & China Gas Trading Down 13.6%

The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.55 and a current ratio of 0.63. The company’s 50-day simple moving average is $0.83 and its 200-day simple moving average is $0.88.

Hedge Funds Weigh In On Hong Kong & China Gas

A hedge fund recently raised its stake in Hong Kong & China Gas stock. Rhumbline Advisers raised 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 filing with the Securities & Exchange Commission. The fund owned 131,441 shares of the company’s stock after acquiring an additional 27,860 shares during the period. Rhumbline Advisers’ holdings in Hong Kong & China Gas were worth $107,000 as of its most recent SEC filing.

About Hong Kong & China Gas

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.