CLP (OTCMKTS:CLPHY) Shares Gap Up – Time to Buy?

Shares of CLP Holdings Ltd. (OTCMKTS:CLPHY) gapped up before the market opened on Tuesday . The stock had previously closed at $9.42, but opened at $9.73. CLP shares last traded at $9.73, with a volume of 590 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CLPHY. Zacks Research upgraded shares of CLP to a “hold” rating in a research note on Thursday, February 26th. Citigroup cut 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 data from MarketBeat, CLP has a consensus rating of “Hold”.

CLP Stock Performance

The company has a debt-to-equity ratio of 0.44, a current ratio of 0.59 and a quick ratio of 0.48. The company’s fifty day moving average is $9.62 and its 200-day moving average is $9.46.

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.