Tencent (OTCMKTS:TCEHY) Hits New 1-Year Low – Should You Sell?

Tencent Holding Ltd. (OTCMKTS:TCEHY) shares reached a new 52-week low during trading on Thursday . The company traded as low as $54.12 and last traded at $54.31, with a volume of 646078 shares trading hands. The stock had previously closed at $55.57.

Analysts Set New Price Targets

TCEHY has been the topic of a number of recent research reports. Erste Group Bank cut Tencent from a “buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Zacks Research cut Tencent from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 23rd. Finally, Barclays reaffirmed an “overweight” rating and set a $106.00 price objective on shares of Tencent in a research note on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Tencent has an average rating of “Moderate Buy” and an average price target of $106.00.

Tencent Stock Down 1.9%

The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market capitalization of $497.20 billion, a P/E ratio of 15.23 and a beta of 0.29. The company has a 50 day moving average of $61.90 and a 200-day moving average of $70.71.

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.