Kunlun Energy (OTCMKTS:KLYCY) Shares Up 8.5% – Here’s What Happened

Shares of Kunlun Energy (OTCMKTS:KLYCY) shot up 8.5% on Monday . The company traded as high as $8.90 and last traded at $8.90. Approximately 500 shares were traded during trading, a decline of 90% from the average session volume of 5,247 shares. The stock had previously closed at $8.20.

Analysts Set New Price Targets

Separately, Zacks Research cut Kunlun Energy from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Kunlun Energy Stock Performance

The company has a quick ratio of 1.70, a current ratio of 1.73 and a debt-to-equity ratio of 0.15. The company’s fifty day moving average is $8.63 and its two-hundred day moving average is $9.61.

About Kunlun Energy

Kunlun Energy Company Limited is a China-based energy company engaged primarily in the exploration, production, distribution and sales of natural gas and crude oil. As a publicly traded entity on the Hong Kong Stock Exchange and the OTC Markets under the ticker KLYCY, the company focuses on developing upstream reserves in key basins across northwest China, including the Tarim, Junggar and Turpan–Hami basins. Kunlun Energy’s upstream activities are supported by a combination of proprietary drilling technologies and strategic partnerships that enable it to target both conventional and unconventional hydrocarbon resources.

In its midstream operations, Kunlun Energy has established an extensive pipeline network that links its production areas to major consumption centers.