Hexagon Composites ASA (OTCMKTS:HXGCF) Trading 7% Higher – What’s Next?

Hexagon Composites ASA (OTCMKTS:HXGCF)’s share price traded up 7% during trading on Wednesday . The company traded as high as $0.7813 and last traded at $0.7813. 400 shares were traded during mid-day trading, a decline of 93% from the average session volume of 5,950 shares. The stock had previously closed at $0.73.

Analysts Set New Price Targets

Separately, Pareto Securities downgraded shares of Hexagon Composites ASA to a “hold” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Hexagon Composites ASA Stock Up 7.0%

The company has a 50-day moving average price of $0.78 and a two-hundred day moving average price of $1.31.

About Hexagon Composites ASA

Hexagon Composites ASA (OTCMKTS: HXGCF) is a Norway‐based industrial company specializing in the design, manufacture and distribution of advanced composite pressure cylinders and gas storage systems. Headquartered in Asker, the company develops Type III and Type IV cylinders engineered to safely store and transport environmentally friendly gases, including compressed natural gas (CNG), renewable natural gas (RNG), hydrogen and liquefied petroleum gas (LPG). Its solutions are used across a broad range of applications—from commercial transport and industrial gas handling to energy refueling stations.

Originally founded in the early 1980s to serve the emerging market for lightweight pressure vessels, Hexagon has expanded through organic growth and strategic acquisitions to become a global leader in composite cylinder technology.