Tencent (OTCMKTS:TCEHY) Shares Gap Down – Time to Sell?
by Teresa Graham · The Cerbat GemTencent Holding Ltd. (OTCMKTS:TCEHY – Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $58.65, but opened at $56.2150. Tencent shares last traded at $56.16, with a volume of 29,714 shares trading hands.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on TCEHY shares. Zacks Research downgraded shares of Tencent from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 23rd. Erste Group Bank downgraded shares of Tencent from a “buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Finally, Barclays restated an “overweight” rating and set a $106.00 price objective on shares of Tencent in a research report on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $106.00.
Get Our Latest Stock Report on Tencent
Tencent Trading Down 3.7%
The firm has a market capitalization of $515.21 billion, a price-to-earnings ratio of 15.78 and a beta of 0.29. 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 firm’s 50-day simple moving average is $63.40 and its 200 day simple moving average is $71.60.
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.