Kunlun Energy (OTCMKTS:KLYCY) Shares Gap Up – Here’s Why

Shares of Kunlun Energy (OTCMKTS:KLYCY) gapped up prior to trading on Wednesday . The stock had previously closed at $9.40, but opened at $10.25. Kunlun Energy shares last traded at $10.25, with a volume of 316 shares.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised Kunlun Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

Kunlun Energy Trading Up 7.4%

The firm has a fifty day moving average of $9.47 and a 200-day moving average of $9.42. The company has a quick ratio of 1.85, a current ratio of 1.89 and a debt-to-equity ratio of 0.17.

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.