Hong Kong & China Gas (OTCMKTS:HOKCY) Shares Down 13.3% – Here’s What Happened

Hong Kong & China Gas Co. (OTCMKTS:HOKCY)’s share price fell 13.3% during mid-day trading on Wednesday . The stock traded as low as $0.8587 and last traded at $0.8587. 770 shares were traded during mid-day trading, a decline of 95% from the average session volume of 14,158 shares. The stock had previously closed at $0.99.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Hong Kong & China Gas to a “hold” rating in a research report on Friday, August 21st. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Hong Kong & China Gas has a consensus rating of “Hold”.

Hong Kong & China Gas Stock Down 2.0%

The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average of $0.86 and a 200 day moving average of $0.87.

About Hong Kong & China Gas

Hong Kong & China Gas Company Limited, commonly known as Towngas, is a Hong Kong-based energy and utility company. Established in 1862, it operates Hong Kong’s piped-gas supply network and provides natural gas and related energy services to residential, commercial and industrial customers.

The company distributes town gas and natural gas, supplies liquefied petroleum gas, and sells gas appliances and household products. Its activities also include gas engineering, infrastructure development, energy management and the development of lower-carbon and renewable energy solutions.

Beyond Hong Kong, Towngas has expanded into mainland China, where it operates city-gas and related utility businesses in numerous urban markets.