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

Key Points

• Shares gapped up — Hong Kong & China Gas closed at $0.8747 and opened at $0.9050 (about a 3.5% move), with the last trade at $0.9050 on a volume of 685 shares.
• Institutional buying — Rhumbline Advisers boosted its stake by 26.9% in Q1, adding 27,860 shares to hold 131,441 shares valued at roughly $107,000.
• Key technicals and liquidity: the 50-day MA is $0.91 vs the 200-day MA of $0.88, while the company shows limited short-term liquidity (current ratio 0.67, quick ratio 0.61) and moderate leverage (debt-to-equity 0.63).

Hong Kong & China Gas Co. (OTCMKTS:HOKCY - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $0.8747, but opened at $0.9050. Hong Kong & China Gas shares last traded at $0.9050, with a volume of 685 shares changing hands.

Hong Kong & China Gas Trading Up 3.5%

The firm's fifty day moving average price is $0.91 and its 200-day moving average price is $0.88. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 0.63.

Institutional Trading of Hong Kong & China Gas

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

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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