Hong Kong & China Gas (OTCMKTS:HOKCY) Shares Gap Up - Still a Buy?

Key Points

• Shares gapped up premarket (opened $0.99 vs prior close $0.8645) but last traded at $0.85 on light volume (1,957 shares) and are down about 1.2%, trading near their 50‑day ($0.90) and 200‑day ($0.88) moving averages.
• Rhumbline Advisers boosted its stake by 26.9%, buying 27,860 shares to hold 131,441 shares of Hong Kong & China Gas (worth roughly $107,000).
• Towngas is a long‑established utility (founded 1862) that produces and distributes town gas, LPG and related appliances and services to residential, commercial and industrial customers.

Hong Kong & China Gas Co. (OTCMKTS:HOKCY - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $0.8645, but opened at $0.99. Hong Kong & China Gas shares last traded at $0.85, with a volume of 1,957 shares trading hands.

Hong Kong & China Gas Stock Down 1.2%

The firm has a 50 day moving average of $0.90 and a two-hundred day moving average of $0.88.

Hedge Funds Weigh In On Hong Kong & China Gas

An institutional investor recently raised its position in Hong Kong & China Gas stock. Rhumbline Advisers boosted its position in Hong Kong & China Gas Co. (OTCMKTS:HOKCY - Free Report) by 26.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,441 shares of the company's stock after purchasing 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.