Hong Kong & China Gas (OTCMKTS:HOKCY) Shares Up 7.1% After Analyst Upgrade

Shares of Hong Kong & China Gas Co. (OTCMKTS:HOKCY) were up 7.1% during trading on Monday after Zacks Research upgraded the stock to a hold rating. The company traded as high as $0.99 and last traded at $0.99. 300,586 shares traded hands during trading, an increase of 2,242% from the average daily volume of 12,835 shares. The stock had previously closed at $0.9247.

Hedge Funds Weigh In On Hong Kong & China Gas

A hedge fund recently raised its stake in Hong Kong & China Gas stock. Rhumbline Advisers lifted its position in Hong Kong & China Gas Co. (OTCMKTS:HOKCY) by 26.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 131,441 shares of the company’s stock after buying 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 reporting period.

Hong Kong & China Gas Price Performance

The company has a fifty day moving average price of $0.83 and a two-hundred day moving average price of $0.88. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 0.61.

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.