Hong Kong & China Gas (OTCMKTS:HOKCY) Trading Up 14.3% - Here's Why

Key Points

• Shares of Hong Kong & China Gas (OTCMKTS:HOKCY) jumped 14.3% mid-day to $0.96 from $0.84, but volume was only about 780 shares—down roughly 91% from its average daily volume.
• Rhumbline Advisers boosted its position by 26.9%, acquiring an additional 27,860 shares to hold 131,441 shares worth about $107,000, indicating recent institutional buying.
• Towngas, a utility founded in 1862, trades near its 50- and 200-day moving averages (~$0.90) and shows weak liquidity (current ratio 0.63, quick ratio 0.55) with a debt-to-equity ratio of 0.61.

Hong Kong & China Gas Co. (OTCMKTS:HOKCY - Get Free Report)'s share price was up 14.3% during mid-day trading on Friday . The stock traded as high as $0.96 and last traded at $0.96. Approximately 780 shares traded hands during trading, a decline of 91% from the average daily volume of 8,786 shares. The stock had previously closed at $0.84.

Hong Kong & China Gas Stock Up 3.0%

The company has a fifty day moving average of $0.90 and a 200-day moving average of $0.89. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 0.61.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Hong Kong & China Gas stock. Rhumbline Advisers grew its position in shares of Hong Kong & China Gas Co. (OTCMKTS:HOKCY - Free Report) by 26.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent reporting period.

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.