Hong Kong & China Gas (OTCMKTS:HOKCY) Shares Gap Up – Here’s Why

Hong Kong & China Gas Co. (OTCMKTS:HOKCY)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $0.90, but opened at $0.97. Hong Kong & China Gas shares last traded at $0.97, with a volume of 111 shares trading hands.

Hong Kong & China Gas Stock Up 7.8%

The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.55 and a current ratio of 0.63. The firm’s 50-day moving average price is $0.89 and its 200 day moving average price is $0.90.

Institutional Inflows and Outflows

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) by 26.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

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.