Tencent Holding Ltd. (OTCMKTS:TCEHY – Get Free Report) was the target of a significant decrease in short interest in April. As of April 30th, there was short interest totaling 2,683,611 shares, a decrease of 39.4% from the April 15th total of 4,425,467 shares. Based on an average daily trading volume, of 8,433,694 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.0% of the company’s stock are sold short.
Tencent Trading Down 0.3%
Shares of Tencent stock opened at $58.69 on Friday. The firm has a market cap of $535.58 billion, a PE ratio of 16.39 and a beta of 0.29. Tencent has a 1 year low of $57.91 and a 1 year high of $87.68. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a fifty day moving average price of $63.84 and a 200-day moving average price of $72.22.
Wall Street Analyst Weigh In
TCEHY has been the subject of several analyst reports. Zacks Research downgraded shares of Tencent from a “strong-buy” rating to a “hold” rating in a report on Monday, March 23rd. Barclays restated an “overweight” rating and set a $106.00 price target on shares of Tencent in a report on Thursday. Finally, Erste Group Bank downgraded shares of Tencent from a “buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $106.00.
Tencent Company Profile
Tencent Holdings Limited is a Chinese multinational technology conglomerate headquartered in Shenzhen, Guangdong. Founded in 1998, the company grew from early instant-messaging products into a diversified internet services group and is listed on the Hong Kong Stock Exchange. Tencent’s businesses span consumer-facing applications, digital content, cloud services and financial technology, supported by a broad investment program in global technology and gaming companies.
At the consumer level Tencent operates major social and communication platforms such as QQ and WeChat (Weixin), which combine messaging, social networking, mobile payments and a wide range of mini-programs and services.
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