Short Interest in Tencent Holding Ltd. (OTCMKTS:TCEHY) Expands By 335.5%

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 recipient of a large increase in short interest in the month of 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.

Wall Street Analyst Weigh In

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

Tencent Stock Up 2.0%

Shares of TCEHY traded up $1.59 on Monday, reaching $79.26. The company's stock had a trading volume of 1,005,625 shares, compared to its average volume of 3,381,810. Tencent has a twelve month low of $46.70 and a twelve month high of $79.32. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $726.99 billion, a PE ratio of 25.65 and a beta of 0.11. The firm has a fifty day moving average of $70.83 and a 200-day moving average of $66.18.

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.