Tencent (OTCMKTS:TCEHY) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Tencent Holdings Limited (OTCMKTS:TCEHY) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $49.94 and traded as high as $52.26. Tencent shares last traded at $52.21, with a volume of 1,383,701 shares traded.

Wall Street Analyst Weigh In

Separately, New Street Research upgraded shares of Tencent to a “strong-buy” rating in a research note on Monday, September 9th.

Tencent Price Performance

The company has a current ratio of 1.35, a quick ratio of 1.33 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average price of $53.53 and a 200 day moving average price of $49.94. The stock has a market capitalization of $484.49 billion, a price-to-earnings ratio of 21.05 and a beta of 0.19.

About Tencent

Tencent Holdings Limited, an investment holding company, offers value-added services (VAS), online advertising, fintech, and business services in the People's Republic of China and internationally. It operates through VAS, Online Advertising, FinTech and Business Services, and Others segments. The company's consumers business provides communication and services, such as instant messaging and social network; digital content including online games, videos, live streaming, news, music, and literature; fintech services, which includes mobile payment, wealth management, loans, and securities trading; and various tools, such as network security management, browser, navigation, application management, email, etc.