Hong Kong & China Gas (OTCMKTS:HOKCY) Shares Down 7.7% - Here's Why

Key Points

• Shares down 7.7% — Hong Kong & China Gas fell to $0.84 on Tuesday, trading as low as $0.84 with only 1,069 shares changing hands, about 88% below its average daily volume.
• Institutional investor increased stake — Rhumbline Advisers boosted its position by 26.9% in Q1, adding 27,860 shares to hold 131,441 shares worth roughly $107,000.
• Financial/technical snapshot — The stock trades near its 50‑ and 200‑day moving averages (~$0.90 and $0.89), has a debt/equity ratio of 0.61, and shows weak liquidity (quick ratio 0.55, current ratio 0.63).

Hong Kong & China Gas Co. (OTCMKTS:HOKCY - Get Free Report) shares dropped 7.7% on Tuesday . The stock traded as low as $0.84 and last traded at $0.84. Approximately 1,069 shares changed hands during trading, a decline of 88% from the average daily volume of 8,677 shares. The stock had previously closed at $0.91.

Hong Kong & China Gas Trading Up 2.9%

The firm's 50 day moving average is $0.90 and its two-hundred day moving average is $0.89. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.55 and a current ratio of 0.63.

Institutional Investors Weigh In On Hong Kong & China Gas

A hedge fund recently raised its stake in Hong Kong & China Gas stock. Rhumbline Advisers increased its holdings in shares of Hong Kong & China Gas Co. (OTCMKTS:HOKCY - Free Report) by 26.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,441 shares of the company's stock after acquiring 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 quarter.

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.

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