Tencent (OTCMKTS:TCEHY) Sets New 12-Month Low – Here’s What Happened

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

Wall Street Analyst Weigh In

TCEHY has been the subject of a number of research reports. Zacks Research raised shares of Tencent from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 24th. Barclays lowered their price target on shares of Tencent from $106.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $88.00.

Tencent Price Performance

The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a fifty day simple moving average of $55.30 and a 200-day simple moving average of $57.87. The stock has a market cap of $477.36 billion, a price-to-earnings ratio of 13.76 and a beta of 0.25.

Institutional Investors Weigh In On Tencent

An institutional investor recently bought a new position in Tencent stock. Raiffeisen Bank International AG acquired a new position in shares of Tencent Holding Ltd. (OTCMKTS:TCEHY) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 259,080 shares of the technology company’s stock, valued at approximately $13,897,000. 0.02% of the stock is owned by institutional investors and hedge funds.

Tencent Company Profile

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.