Power Assets (OTCMKTS:HGKGY) Trading Up 9.1% - Should You Buy?

Key Points

• Power Assets Holdings Ltd. saw a significant share price increase of 9.1%, reaching $6.84 from a previous close of $6.27.
• The company has declared a new dividend of $0.2425 per share, significantly higher than the previous dividend of $0.08, resulting in an impressive dividend yield of 484.0%.
• Power Assets operates in multiple markets, including electricity generation and distribution in regions like Hong Kong, the UK, and Australia.

Power Assets Holdings Ltd. (OTCMKTS:HGKGY - )'s share price shot up 9.1% during trading on Monday . The company traded as high as $6.84 and last traded at $6.84. 1,983 shares traded hands during trading, a decline of 42% from the average session volume of 3,430 shares. The stock had previously closed at $6.27.

Power Assets Price Performance

The firm's 50 day moving average is $6.52 and its two-hundred day moving average is $6.47. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.03.

Power Assets Increases Dividend

The firm also recently declared a dividend, which was paid on Tuesday, June 17th. Shareholders of record on Wednesday, May 28th were paid a dividend of $0.2425 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a dividend yield of 484.0%. This is a boost from Power Assets's previous dividend of $0.08.

About Power Assets

Power Assets Holdings Limited, an investment holding company, engages in the generation, transmission, and distribution of electricity in Hong Kong, the United Kingdom, Australia, Mainland China, and internationally. It generates energy from thermal, renewable energy, and waste sources. The company also transmits and distributes oil and gas; and provides trust administration and management services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.