Hong Kong & China Gas (OTCMKTS:HOKCY) Shares Gap Down - Here's What Happened

Key Points

• Stock gapped down: Hong Kong & China Gas opened at $0.9050 after a prior close of $0.96 and last traded at $0.9050 on light volume (381 shares).
• Institutional buying: Rhumbline Advisers increased its stake by 26.9% in Q1 to 131,441 shares, valued at about $107,000 per its latest 13F filing.
• Financial and technicals: The company shows a debt-to-equity of 0.61, current ratio 0.63 and quick ratio 0.55, with the stock trading near its 50-day ($0.90) and 200-day ($0.89) moving averages.

Hong Kong & China Gas Co. (OTCMKTS:HOKCY - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $0.96, but opened at $0.9050. Hong Kong & China Gas shares last traded at $0.9050, with a volume of 381 shares traded.

Hong Kong & China Gas Stock Performance

The company has a debt-to-equity ratio of 0.61, a current ratio of 0.63 and a quick ratio of 0.55. The business's 50 day moving average is $0.90 and its 200-day moving average is $0.89.

Hedge Funds Weigh In On Hong Kong & China Gas

An institutional investor recently raised its position in Hong Kong & China Gas stock. Rhumbline Advisers lifted its stake in shares of Hong Kong & China Gas Co. (OTCMKTS:HOKCY - Free Report) by 26.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 131,441 shares of the company's stock after buying an additional 27,860 shares during the period. Rhumbline Advisers' holdings in Hong Kong & China Gas were worth $107,000 as of its most recent SEC filing.

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.

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