Tencent (OTCMKTS:TCEHY) Rating Lowered to “Strong Sell” at Zacks Research

Tencent (OTCMKTS:TCEHY) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday,Zacks.com reports.

Separately, Barclays reaffirmed an “overweight” rating and set a $106.00 price target on shares of Tencent in a report on Thursday, May 14th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Tencent has an average rating of “Hold” and an average target price of $106.00.

Tencent Trading Up 0.8%

TCEHY opened at $56.89 on Wednesday. The stock has a market capitalization of $517.87 billion, a price-to-earnings ratio of 15.59 and a beta of 0.27. The company has a quick ratio of 1.42, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. Tencent has a twelve month low of $52.84 and a twelve month high of $87.68. The company has a 50-day simple moving average of $57.84 and a 200 day simple moving average of $61.08.

Institutional Investors Weigh In On Tencent

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

Tencent Company Profile

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.