Tencent Holding Ltd. (OTCMKTS:TCEHY) Short Interest Up 335.5% in August

Key Points

• Tencent Holdings Ltd. experienced a substantial increase in short interest, rising by 335.5% from July to reach 7,671,000 shares as of August 15th.
• Barclays has reissued an "overweight" rating on Tencent's shares, with the stock receiving an average rating of "Strong Buy" and a consensus target price of $88.00.
• As of the latest data, Tencent's stock opened at $77.28 and has a market capitalization of approximately $708.76 billion, indicating strong market performance.

Tencent Holding Ltd. (OTCMKTS:TCEHY - Get Free Report) was the target of a significant increase in short interest in August. As of August 15th, there was short interest totaling 7,671,000 shares, anincreaseof335.5% from the July 31st total of 1,761,500 shares. Based on an average daily volume of 4,130,200 shares, the days-to-cover ratio is presently 1.9 days. Based on an average daily volume of 4,130,200 shares, the days-to-cover ratio is presently 1.9 days.

Tencent Stock Performance

OTCMKTS:TCEHY traded up $1.47 on Friday, hitting $77.67. The stock had a trading volume of 1,456,287 shares, compared to its average volume of 1,750,902. The stock has a market cap of $712.34 billion, a price-to-earnings ratio of 25.14 and a beta of 0.11. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.30. The business's 50-day simple moving average is $70.83 and its two-hundred day simple moving average is $66.18. Tencent has a 52-week low of $46.70 and a 52-week high of $78.98.

Wall Street Analysts Forecast Growth

Separately, Barclays restated an "overweight" rating on shares of Tencent in a report on Thursday, May 15th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Strong Buy" and an average price target of $88.00.

Tencent Company Profile

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.