Hong Kong & China Gas (OTCMKTS:HOKCY) Trading 10% Higher - Here's Why

Key Points

• Shares surged 10% to $0.9150 intraday on Monday, but volume was thin at 2,004 shares—about 78% below the stock's average—indicating the move occurred on low liquidity.
• Rhumbline Advisers raised its stake by 26.9% in Q1, buying 27,860 shares to hold 131,441 shares valued at roughly $107,000.
• Towngas is a long-established town gas utility; its balance sheet shows a debt-to-equity of 0.63 and tight liquidity (current ratio 0.67, quick ratio 0.61), with 50- and 200-day SMAs at $0.91 and $0.88.

Hong Kong & China Gas Co. (OTCMKTS:HOKCY - Get Free Report)'s share price rose 10% during trading on Monday . The stock traded as high as $0.9150 and last traded at $0.9150. Approximately 2,004 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 9,009 shares. The stock had previously closed at $0.8321.

Hong Kong & China Gas Price Performance

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

Institutional Trading of Hong Kong & China Gas

An institutional investor recently raised its position in Hong Kong & China Gas stock. Rhumbline Advisers lifted its stake in Hong Kong & China Gas Co. (OTCMKTS:HOKCY - Free Report) by 26.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 & Exchange Commission.

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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