Tencent Holding Ltd. (OTCMKTS:TCEHY) Sees Significant Drop in Short Interest

Tencent Holding Ltd. (OTCMKTS:TCEHY) was the target of a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 2,254,526 shares, a decline of 38.5% from the May 31st total of 3,667,197 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 9,259,998 shares, the short-interest ratio is presently 0.2 days.

Tencent Price Performance

OTCMKTS TCEHY opened at $55.35 on Friday. Tencent has a one year low of $52.84 and a one year high of $87.68. The stock has a 50-day moving average of $57.62 and a 200 day moving average of $66.34. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.42 and a current ratio of 1.43. The company has a market capitalization of $504.13 billion, a price-to-earnings ratio of 15.46 and a beta of 0.26.

Analyst Ratings Changes

TCEHY has been the topic of several analyst reports. Barclays reiterated an “overweight” rating and issued a $106.00 target price on shares of Tencent in a research note on Thursday, May 14th. Zacks Research lowered shares of Tencent from a “strong-buy” rating to a “hold” rating in a report on Monday, March 23rd. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $106.00.

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.