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

Shares of Hong Kong & China Gas Co. (OTCMKTS:HOKCY) gapped up before the market opened on Friday. The stock had previously closed at $0.83, but opened at $0.8836. Hong Kong & China Gas shares last traded at $0.8836, with a volume of 340 shares.

Wall Street Analyst Weigh In

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

Hong Kong & China Gas Stock Up 6.5%

The stock’s 50-day moving average price is $0.90 and its 200 day moving average price is $0.88.

Hong Kong & China Gas Company Profile

Hong Kong & China Gas Company Limited, commonly known as Towngas, is an energy and utility company headquartered in Hong Kong. Founded in 1862, it is one of the territory’s longest-established public utility companies and operates a piped town-gas business serving residential, commercial and industrial customers.

The company produces, distributes and supplies town gas through its Hong Kong network, supporting household cooking, water heating and other energy needs. It also provides related services and develops energy infrastructure, including gas-related engineering, project development and smart-energy solutions.

Through subsidiaries and investments, Towngas has expanded into mainland China and other businesses associated with city-gas distribution, water and environmental services, and renewable or lower-carbon energy.