Hong Kong & China Gas (OTCMKTS:HOKCY) Shares Up 8.4% – Here’s Why

Shares of Hong Kong & China Gas Co. (OTCMKTS:HOKCY) traded up 8.4% during mid-day trading on Wednesday . The company traded as high as $0.90 and last traded at $0.8779. Approximately 2,028 shares traded hands during trading, a decline of 83% from the average session volume of 11,992 shares. The stock had previously closed at $0.81.

Hong Kong & China Gas Price Performance

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 has a 50 day moving average price of $0.89 and a two-hundred day moving average price of $0.89.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Hong Kong & China Gas stock. Rhumbline Advisers boosted its stake in Hong Kong & China Gas Co. (OTCMKTS:HOKCY) by 26.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,441 shares of the company’s stock after buying an additional 27,860 shares during the quarter. Rhumbline Advisers’ holdings in Hong Kong & China Gas were worth $107,000 at the end of the most recent reporting period.

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.