Hong Kong & China Gas (OTCMKTS:HOKCY) Stock Falls 10.9% – Here’s Why

Hong Kong & China Gas Co. (OTCMKTS:HOKCY) traded down 10.9% during mid-day trading on Tuesday. The company traded as low as $0.82 and last traded at $0.82. Approximately 1,455 shares changed hands during trading, a decline of 90% from the average daily volume of 14,050 shares. The stock had previously closed at $0.92.

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 equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Hong Kong & China Gas Price Performance

The stock has a fifty day moving average of $0.88 and a 200-day moving average of $0.87. 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

Hong Kong & China Gas Company Limited, commonly known as Towngas, is a Hong Kong-based energy utility and infrastructure company. Founded in 1862, it is one of Hong Kong’s longest-established public utilities and supplies piped gas to residential, commercial and industrial customers across the city.

The company develops and operates gas production, transmission and distribution infrastructure and provides related services, including gas appliance sales, installation and maintenance.