CLP (OTCMKTS:CLPHY) Sees Strong Trading Volume – Still a Buy?

CLP Holdings Ltd. (OTCMKTS:CLPHY) shares saw unusually-high trading volume on Friday . Approximately 194,359 shares changed hands during trading, an increase of 222% from the previous session’s volume of 60,390 shares.The stock last traded at $9.6304 and had previously closed at $9.79.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CLPHY shares. Zacks Research raised CLP to a “hold” rating in a research report on Thursday, February 26th. Citigroup lowered shares of CLP from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, CLP currently has an average rating of “Hold”.

CLP Stock Performance

The company has a current ratio of 0.59, a quick ratio of 0.48 and a debt-to-equity ratio of 0.44. The company has a 50 day simple moving average of $9.55 and a 200-day simple moving average of $9.26.

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.