CLP (OTCMKTS:CLPHY) Shares Gap Down – Here’s What Happened

Shares of CLP Holdings Ltd. (OTCMKTS:CLPHY) gapped down prior to trading on Wednesday . The stock had previously closed at $9.42, but opened at $9.06. CLP shares last traded at $9.48, with a volume of 9,990 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CLPHY shares. Zacks Research raised CLP to a “hold” rating in a research report on Thursday, February 26th. Citigroup cut CLP from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, CLP presently has an average 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 firm’s fifty day simple moving average is $9.60 and its 200 day simple moving average is $9.04.

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.