Tencent (OTCMKTS:TCEHY) Sets New 52-Week Low - Time to Sell?

Key Points

• Tencent shares hit a new 52-week low, trading as low as $59.26 intraday and last at $59.57 on volume of 683,995 shares (previous close $60.34).
• Two analysts (Erste Group and Zacks) recently downgraded Tencent to Hold, but MarketBeat’s consensus remains a Moderate Buy with an average price target of $102.00.
• Technical and fundamental signals show weakness—the 50‑day ($64.85) and 200‑day ($73.36) moving averages sit well above the current price—while Tencent still has a large market cap (~$555.6B) and a P/E of 18.01.

Tencent Holding Ltd. (OTCMKTS:TCEHY - Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $59.26 and last traded at $59.57, with a volume of 683995 shares changing hands. The stock had previously closed at $60.34.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TCEHY shares. Erste Group Bank lowered Tencent from a "buy" rating to a "hold" rating in a research note on Wednesday, February 18th. Zacks Research lowered Tencent from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 23rd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $102.00.

Tencent Stock Performance

The company has a 50 day moving average price of $64.85 and a 200-day moving average price of $73.36. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The company has a market cap of $555.57 billion, a P/E ratio of 18.01 and a beta of 0.29.

About Tencent

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.

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