Hong Kong & China Gas (OTCMKTS:HOKCY) Stock Price Down 5.8% – Here’s What Happened

Hong Kong & China Gas Co. (OTCMKTS:HOKCY) dropped 5.8% on Wednesday . The company traded as low as $0.8950 and last traded at $0.8950. Approximately 223 shares traded hands during trading, a decline of 98% from the average daily volume of 8,923 shares. The stock had previously closed at $0.95.

Hong Kong & China Gas Stock Down 7.4%

The stock’s 50 day simple moving average is $0.89 and its two-hundred day simple moving average is $0.90. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 0.61.

Hedge Funds Weigh In On Hong Kong & China Gas

A hedge fund recently raised its stake in Hong Kong & China Gas stock. Rhumbline Advisers grew its position in shares of Hong Kong & China Gas Co. (OTCMKTS:HOKCY) by 26.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 131,441 shares of the company’s stock after buying an additional 27,860 shares during the quarter. Rhumbline Advisers’ holdings in Hong Kong & China Gas were worth $107,000 as of its most recent filing with the Securities & Exchange Commission.

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.