Tencent Holding Ltd. (OTCMKTS:TCEHY - Get Free Report) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 1,542,600 shares, a decrease of 87.4% from the September 15th total of 12,210,300 shares. Based on an average daily trading volume, of 2,969,200 shares, the short-interest ratio is currently 0.5 days. Based on an average daily trading volume, of 2,969,200 shares, the short-interest ratio is currently 0.5 days.
Analysts Set New Price Targets
Separately, Itau BBA Securities assumed coverage on Tencent in a research note on Tuesday, October 7th. They issued an "outperform" rating on the stock. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Tencent has a consensus rating of "Buy" and a consensus target price of $88.00.
Check Out Our Latest Stock Report on Tencent
Tencent Price Performance
OTCMKTS TCEHY traded down $0.58 during trading on Thursday, hitting $79.68. 1,596,005 shares of the stock traded hands, compared to its average volume of 3,152,140. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $729.31 billion, a P/E ratio of 25.79 and a beta of 0.12. Tencent has a 12-month low of $46.76 and a 12-month high of $87.68. The firm has a 50-day simple moving average of $80.01 and a 200-day simple moving average of $69.57.
Tencent Company Profile
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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.
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