CLP (OTCMKTS:CLPHY) Shares Gap Up – Still a Buy?

CLP Holdings Ltd. (OTCMKTS:CLPHY) shares gapped up prior to trading on Wednesday . The stock had previously closed at $9.30, but opened at $9.68. CLP shares last traded at $9.5050, with a volume of 39,199 shares.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Zacks Research raised CLP to a “hold” rating in a research note on Thursday, February 26th. Citigroup cut shares of CLP from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

CLP Stock Down 0.9%

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.48 and a current ratio of 0.59. The firm has a 50-day moving average price of $9.64 and a 200 day moving average price of $9.43.

About CLP

CLP Holdings Limited (OTCMKTS: CLPHY) is an investor‑owned electric utility headquartered in Hong Kong. The company’s core activities include the generation, transmission and distribution of electricity as well as the retailing of energy to residential, commercial and industrial customers. CLP’s generation portfolio is diversified across conventional and low‑carbon technologies, and the company supplements its core utility operations with energy services such as demand management, distributed energy solutions and infrastructure development.

Founded in the early 20th century as China Light & Power, CLP has developed into one of the region’s long‑standing power companies and conducts operations and investments across the Asia‑Pacific region.