Tencent (OTCMKTS:TCEHY) Sets New 1-Year Low – Here’s Why

Tencent Holding Ltd. (OTCMKTS:TCEHY)’s stock price hit a new 52-week low during trading on Monday. The company 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.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Tencent from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 24th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $106.00.

Tencent Stock Down 0.5%

The firm has a 50 day simple moving average of $55.63 and a two-hundred day simple moving average of $58.03. The company has a market capitalization of $477.27 billion, a PE ratio of 14.38 and a beta of 0.25. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Institutional Investors Weigh In On Tencent

An institutional investor recently bought a new position in Tencent stock. Raiffeisen Bank International AG acquired a new stake in Tencent Holding Ltd. (OTCMKTS:TCEHY) during the second quarter, according to its most recent filing with the SEC. The firm acquired 259,080 shares of the technology company’s stock, valued at approximately $13,897,000. Institutional investors and hedge funds own 0.02% of the company’s stock.

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.