Tencent (OTCMKTS:TCEHY) Sets New 1-Year Low – Here’s Why

Tencent Holding Ltd. (OTCMKTS:TCEHY) shares reached a new 52-week low during trading on Monday. The company traded as low as $52.3675 and last traded at $52.3902, with a volume of 895,545 shares. The stock had previously closed at $52.75.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Tencent from a “strong sell” rating to a “hold” rating in a report on Thursday, September 24th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $106.00.

Tencent Price Performance

The firm has a market capitalization of $477.27 billion, a price-to-earnings ratio of 14.38 and a beta of 0.25. The company has a fifty day moving average price of $55.63 and a two-hundred day moving average price of $58.03. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Institutional Trading of Tencent

A hedge fund recently bought a new stake in Tencent stock. Raiffeisen Bank International AG purchased a new position in shares of Tencent Holding Ltd. (OTCMKTS:TCEHY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 259,080 shares of the technology company’s stock, valued at approximately $13,897,000. Hedge funds and other institutional investors own 0.02% of the company’s stock.

About Tencent

Tencent Holdings Ltd. is a Chinese technology and internet company founded in 1998 and headquartered in Shenzhen, China. The company develops and operates digital platforms and services used by consumers, businesses and content creators in China and international markets.

Tencent’s major products include Weixin, known as WeChat internationally, a messaging and social platform that also supports payments, commerce, mini programs and other services, as well as QQ, an instant-messaging and social-media platform.