Kunlun Energy (OTCMKTS:KLYCY) Stock Price Down 7.7% – Here’s Why

Shares of Kunlun Energy (OTCMKTS:KLYCY) were down 7.7% during mid-day trading on Wednesday . The company traded as low as $10.15 and last traded at $10.15. Approximately 222 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 366 shares. The stock had previously closed at $10.9950.

Wall Street Analyst Weigh In

Separately, Zacks Research raised Kunlun Energy to a “hold” rating in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Kunlun Energy Stock Down 7.7%

The business’s fifty day moving average price is $9.84 and its 200 day moving average price is $9.47. The company has a current ratio of 1.89, a quick ratio of 1.85 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.