Tencent (OTCMKTS:TCEHY) Stock Passes Above 200 Day Moving Average – Here’s Why

Tencent Holding Ltd. (OTCMKTS:TCEHY) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $70.16 and traded as high as $80.56. Tencent shares last traded at $79.95, with a volume of 1,694,745 shares traded.

Analyst Ratings Changes

Separately, Itau BBA Securities initiated coverage on Tencent in a research note on Tuesday, October 7th. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $88.00.

Tencent Trading Down 1.1%

The stock has a fifty day moving average of $80.79 and a 200-day moving average of $70.16. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market cap of $731.84 billion, a PE ratio of 25.87 and a beta of 0.12.

About Tencent

Tencent Holdings Limited, an investment holding company, offers value-added services (VAS), online advertising, fintech, and business services in the People's Republic of China and internationally. It operates through VAS, Online Advertising, FinTech and Business Services, and Others segments. The company's consumers business provides communication and services, such as instant messaging and social network; digital content including online games, videos, live streaming, news, music, and literature; fintech services, which includes mobile payment, wealth management, loans, and securities trading; and various tools, such as network security management, browser, navigation, application management, email, etc.