Towngas China Company Limited (OTCMKTS:TGASF) Sees Large Decrease in Short Interest

Towngas China Company Limited (OTCMKTS:TGASF) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 2,100 shares, a decrease of 79.4% from the August 15th total of 10,200 shares. Based on an average daily volume of 2,400 shares, the days-to-cover ratio is presently 0.9 days.

Separately, DBS Vickers raised shares of Towngas China from a “hold” rating to a “buy” rating and set a $6.10 price objective on the stock in a report on Monday, August 23rd.

Shares of OTCMKTS:TGASF remained flat at $$0.65 during mid-day trading on Wednesday. 1,200 shares of the company were exchanged, compared to its average volume of 6,163. The company’s fifty day simple moving average is $0.67. Towngas China has a 1-year low of $0.39 and a 1-year high of $0.77.

Towngas China Company Profile

Towngas China Company Limited, an investment holding company, sells and distributes piped gas in the People's Republic of China. The company operates through two segments, Sales and Distribution of Piped Gas and Related Products, and Gas Connection. It engages in the provision of piped gas; construction of gas pipelines; operation of city gas pipeline network; operation of gas fuel automobile refilling stations; and sale of gas household appliances.

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