Hong Kong & China Gas (OTCMKTS:HOKCY) Shares Up 7.2% – Still a Buy?

Shares of Hong Kong & China Gas Co. (OTCMKTS:HOKCY) shot up 7.2% during trading on Monday . The stock traded as high as $0.91 and last traded at $0.91. 721 shares were traded during mid-day trading, a decline of 92% from the average session volume of 8,637 shares. The stock had previously closed at $0.8487.

Hong Kong & China Gas Price Performance

The company’s 50 day moving average is $0.90 and its 200 day moving average is $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 lifted its holdings in Hong Kong & China Gas Co. (OTCMKTS:HOKCY) by 26.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 131,441 shares of the company’s stock after acquiring 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 filing with the SEC.

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.