Hexagon Composites ASA (OTCMKTS:HXGCF) Stock Price Up 9% – Here’s What Happened

Hexagon Composites ASA (OTCMKTS:HXGCF) shares rose 9% during mid-day trading on Monday . The company traded as high as $0.85 and last traded at $0.85. Approximately 2,000 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 4,650 shares. The stock had previously closed at $0.78.

Wall Street Analysts Forecast Growth

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

Hexagon Composites ASA Stock Performance

The business’s fifty day moving average price is $0.76 and its two-hundred day moving average price is $1.07.

Hexagon Composites ASA Company Profile

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.